A Chennai-based EPC and industrial park developer has raised around ?400 crore through a preferential issue. The fundraising was structured through a combination of equity and warrants issued to domestic institutions and foreign portfolio investors (FPIs). The company plans to enter real estate promotion and development in a significant way, positioning it as a new business vertical and a logical extension of its existing EPC operations. As part of its real estate strategy, the company will focus on residential, commercial, and IT/ITeS segments. It plans geographic expansion and market development across Tamil Nadu initially, before expanding into other states and regions. According to the company, the macroeconomic environment presents compelling opportunities in Chennai and Tamil Nadu, supported by robust growth and evolving workforce patterns. The strategy will focus on pursuing value-creating opportunities in asset classes and markets where demand and supply dynamics are well understood. The preferential issue is expected to accelerate the next phase of growth while preserving investor value. A portion of the funds raised will also be used to consolidate land parcels at Sunguvarchathriam, near the Oragadam industrial hub and close to the proposed new greenfield airport. The company currently holds around 400 acres in this location and plans to roll out a master development plan for these lands by the second quarter of FY27, according to official notes.

https://www.livehomes.in/news_letter