The Apeejay Surrendra Group announced that it had issued debentures to generate Rs 300 crore for the expansion of its logistics and industrial parks businesses.
The company stated in a statement that the Rs 300 crorecapital was raised using non-convertible debentures (NCD).
The money will be used to support Apeejay Real Estate’s continued expansion plans. ApeejaySurrendra Group is a real estate company.
The NCD issued by the ApeejaySurrendra Group has attracted investment from BPEA Credit, a prominent private alternative investment organisation in Asia.
Karan Paul, chairman of ApeejaySurrendra Group, said, “The government projection to reduce costs in the logistics sector by 10% in the next 5 years, unified policy, and a regulatory environment for end-to-end logistics services make the logistics and warehouse more and more promising. Backed by the government policy and with funds coming in, we are now on a rapid expansion drive.”
