Ahmedabad (Gujarat) [India], February 7, 2025 – IEL Limited (formerly Indian Extractions Limited) (BSE: 524614) has officially entered the warehousing and logistics sector with a strategic land acquisition, marking a pivotal move in its business diversification.
As part of its expansion strategy, IEL Limited has acquired 29,598.89 square meters of land in Village Neeva, Sarojini Nagar, District Lucknow, at a cost of Rs 11.80 Crores. The company aims to develop state-of-the-art storage facilities, including warehouses, cold storage units, and godowns, equipped with advanced logistics technology to enhance supply chain efficiency.
The funding for this expansion comes from IEL’s recently announced rights issue, which opened on February 4, 2025, and will close on February 21, 2025. The proceeds from the issue will be allocated for:
- Land acquisition for warehousing projects.
- Construction of modern storage infrastructure.
- General corporate requirements and issue-related expenses.
With India’s warehousing and logistics sector projected to reach $215 billion by 2026, IEL Limited is strategically positioning itself to capitalize on the growing demand for efficient storage and distribution solutions. The company’s leadership sees this move as the first step in establishing a strong presence in India’s evolving logistics landscape.
