Mumbai, Nov 5 (PTI): Altico Capital has closed a Rs 650 crore transaction in the warehousing and logistics sector with Mumbai-based Renaissance group. The transaction includes Rs 50 crore co-investment from Asia-focused private equity fund and Altico’s founding shareholder Clearwater Capital (now Fiera Capital).

The funding is towards an ongoing warehousing and industrial park named Renaissance Industrial Smart City in Bhiwandi having a development potential of 20 m sqft across warehousing and industrial space, the company said Monday.

Over 3 mm sqft of warehousing space in the project has already been committed to tenants including a leading global e-commerce player.

Altico expect demand for warehousing space in the top eight cities to grow to 671 m sqft by FY21, an increase of almost 30 percent from FY 2016 numbers.


Honda gets over 1 L members in 20 days of loyalty programme Mumbai: Honda Motorcycle & Scooter India has said has got over 1 lakh registrations in 20 days of lunching its customer loyalty programme, which is the second largest two- wheeler maker claimed is a first-of-its-kind initiative in the industry.

Honda Joy Club is a platform that will bring millions of Honda owners and families together, digitally.

In less than a month of the launch of ‘Honda Joy Club’– in fact in the first 20 days-the registration has already crossed over 1 lakh. The membership is free of cost till November 30, for all the new customers,” HMSI said in a statement Monday.

With a vast variety of rewards and experiences for the consumers and dealers, the programme connects with them on an emotional level and gives them all the experiences that heighten their aspirations, the company said.


Fourth Partner Energy commissions 980 kW carport in Maha Mumbai: Rooftop solar solutions provider Fourth Partner Energy Monday commissioned a 980-kq carport for Skoda India at their manufacturing facility in Maharashtra.

This initiative, built in line with the ‘green future’ strategy of Skoda India and commissioned as part of the ‘India 2.0’ project, is expected to reduce 922 tonnes of carbon dioxide emissions each year, the company said.

The carport, which is spread over an area of 8,000 sqmt and is expected to provide covered parking space for almost 300 cars and will cover 30 percent of the plant’s annual energy consumption.

This is published unedited from the PTI feed.