IEL Limited to Launch Rs 450 million Rights Issue for Warehousing Expansion

15 Jan 2025 CW Team

IEL Limited has announced a Rs 445.6 million rights issue to support its strategic foray into the warehousing and logistics sector. The issue, opening on February 4 and closing on February 21, 2025, offers 10.01 crore equity shares at Rs 4.45 per share, including a Rs 3.45 premium.

The funds will facilitate land acquisition, construction of modern storage facilities, and general corporate expenses. IEL has acquired 29,800 sq m in Lucknow for state-of-the-art storage solutions, including warehouses, cold storage units, silos, and smart warehouses.

“With the Indian warehousing market projected to reach $34.99 billion by 2027, IEL’s entry is timely,” said Ajay Gupta, Managing Director, IEL Limited. "This rights issue will drive our expansion into high-demand regions and support infrastructure development to cater to retail, food, and pharma sectors."

In FY24, IEL's net sales rose 56.16 per cent to Rs 17.26 crore, though net profit fell to Rs 0.26 crore from Rs 2.37 crore in FY23. The company's stock underwent a split in September 2023, reducing share face value from Rs 10 to Rs 1.

Infrastructure Transport

01 Sep 2025

Indian Railways Marks New Milestone with 4.5 km Long ‘Rudrastra’ Trial

Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’, achieving a new milestone in cargo transportation, as per news reports. The 4.5 km-long train began its trial from Ganjkhwaja railway station in Chandauli, Uttar Pradesh, and travelled to Garhwa in Jharkhand. Covering a distance of 209 km in 5 hours and 10 minutes, it maintained an average speed of 40.5 km per hour. The train was formed by combining three long-haul racks, with ..

UltraTech Launches India’s First On-Site Hybrid RTC Renewable Energy Project

UltraTech Cement has operationalised a 7.5 MW round-the-clock (RTC) hybrid renewable energy project at its Sewagram Cement Works in Gujarat. The first-of-its-kind solution combines bifacial solar modules with trackers, wind energy and battery storage, co-located on-site, to ensure uninterrupted power for cement manufacturing without grid reliance. The project was executed in collaboration with clean energy solutions provider Gentari. Installed as a behind-the-meter system, it is the country..

Patna Metro Trials Successful, Red Line Priority Corridor to Launch This Month

Patna is set to roll out its first metro rail service later this month, with successful trial runs conducted on the Red Line priority corridor, the Patna Metro Rail Corporation announced.On 7 September, a metro train completed a test run between the Patna depot and Bhootnath station. Officials said the trials involved rigorous checks of rolling stock fitness, overhead electrification (OHE), and track alignment and stability to ensure operational safety and performance.The corridor from the New Pataliputra Bus Terminal to Bhoothnath has been designated as the priority stretch and will be the fi..