Renuka Holdings PLC is a diversified conglomerate listed on the Colombo Stock Exchange (CSE) and is the holding company for subsidiaries engaged in Agri Food Exports (Plantations, Manufacturing, Global Marketing), Dairy, FMCG, Automotive plus Investment and Services. Property development has been a long term vision of the company as it has land parcels in key locations around the commercial zone and the central business district of Colombo.
Adding to its diversified conglomerate the Renuka Tower will be a modern 28 storey tower providing ‘A’ grade office facilities built on company owned land at Galle Face Terrace and Uttrananda Mawatha, Colombo 03. Once completed, the tower will have 200,000 sq. ft. of rentable office space and parking for more than 200 cars. The tower will also have corporate entertainment areas, conference facilities, dining, recreation and all the modern necessities required to create a pleasant and safe working environment.
The total project cost of the two stage development is estimated at Rs 3.2 Bn which will be partly financed by the ongoing rights issue of Rs 1.03 Bn. The company is offering a total of 44,517,313 ordinary voting shares at Rs. 21 each and 6,428,415 million non-voting shares at Rs. 15 each to be issued. The project is expected to begin in the year 2015 and is planned for completion in the year 2018.(KH)
