Altico invests Rs 600 crore in Renaissance Group logistic park

Altico Capital has invested Rs 600 crore as debt in a warehousing and logistic park being developed by Renaissance Group in Mumbai Metropolitan Region (MMR). Also, another Rs 50 crore has been infused by Altico’s founding shareholder Clearwater Capital (now Fiera Capital).

In a statement, the company said Altico Capital has recently closed Rs 650 crore transaction in the warehousing and logistics sector with Mumbai based Renaissance Group promoted by Mayur Suchak.

Sanjay Grewal, CEO, Altico, said, “The funding is towards an ongoing warehousing and industrial park named ‘Renaissance Industrial Smart City’ in Bhiwandi having a development potential of 20 million sq ft across warehousing and industrial space. The park is the only one in Mumbai to have the Integrated Industrial Area licence.”

Over 3 million sq ft of warehousing space in the project has already been committed to tenants, including a leading global e-commerce player.

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