Indian Extraction Limited Secures INR 43.17 Cr to Expand Warehousing Operations The funds will fuel IEL's ambitious expansion into warehousing and logistics infrastructure.
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Indian Extraction Limited (IEL), an emerging player in warehousing and logistics sector, has successfully raised INR 43.17 crore through a rights issue.
The company issued 97.02 million fully paid-up equity shares at INR 4.45 per share, including a premium of INR 3.45. The issue, open from February 4 to February 27, 2025, saw shares allotted on March 5, 2025.
The funds will fuel IEL's ambitious expansion into warehousing and logistics infrastructure. The company has already signed an MoU for land acquisition and partnered with developers to construct storage facilities.
The first phase of its development will be in Neeva village, Lucknow, a part of the Bijnor warehousing belt. The project will feature warehouses, cold storage, silos, and smart storage solutions, with 76% of the area dedicated to warehousing and 24% to cold storage.
Ajay Gupta, Managing Director of IEL, highlighted the strategic importance of the project, stating, "The demand for Grade A warehouses is rising due to e-commerce growth. Our location is well-connected by roadways, making it ideal for logistics. The funds from this rights issue will help us accelerate our expansion."
IEL aims to partner with Amazon, Flipkart, and Ecom Express to provide modern warehousing solutions in Tier II and Tier III cities. With government initiatives supporting infrastructure and logistics development, IEL is well-positioned to capitalise on this sector's growth, ensuring long-term value for stakeholders.
With a strong legacy in chemical and commodity trading, IEL is now set to become a key player in India's expanding warehousing market.
