Welspun One raises ₹300 cr to fund logistics parks

As a part of its investment outlay, Welspun One plans to develop and lease a portfolio of 7-8 million sqft of grade-A warehousing spaces across Mumbai, Pune, Bengaluru, Delhi-NCR, Chennai, Kolkata and Lucknow

MUMBAI : Welspun One Logistics Parks has raised over ₹300 crore from a set of investors comprising domestic high-net-worth investors and family offices.


The category II alternative investment fund is an integrated funding, development and asset management platform and is backed by the Welspun Group and has set a target of investing ₹1,900 crore over the next three-four years.


Launched early this year, this is the first warehousing AIF for domestic investors, the company said in a statement, adding Sanctum Wealth Management, Edelweiss and Incred Wealth will be the key distributors of the fund.


As a part of its investment outlay, the company plans to develop and lease a portfolio of 7-8 million sqft of grade-A warehousing spaces across Mumbai, Pune, Bengaluru, Delhi-NCR, Chennai, Kolkata and Lucknow.

The amount raised ( ₹300 crore) is a part of its ₹500-crore maiden fund which, when fully raised along with associated bank financing, will enable Welspun One to develop grade-A warehousing assets worth ₹1,900 crore, including its flagship 2.7-million sqft project in Bhiwandi, near Mumbai, which is currently underway.


Welspun Group chairman BK Goenka said the group is very bullish about this logistics sector and are keen to meaningfully increase the capital allocation of capital through the Welspun One platform.


Being the first-mover in the warehousing fund space has helped us achieve 60% of our target in the first close. This puts us firmly on track to deliver at least 1 million sqft of space by the end of this year and then 2 million sqft annually, said Anshul Singhal, managing director at Welspun One.


Source: https://www-livemint-com.cdn.ampproject.org/c/s/www.livemint.com/companies/news/welspun-one-raises-rs-300-cr-to-fund-logistics-parks/amp-11615811731893.html

1 view0 comments
Mindcept-Logo.png

© MINDCEPT CONSULTING

  • LinkedIn

DISCLAIMER: The information contained in this website is offered for illustration purposes only and is general information. We make no representations or warranties of any kind (express or implied) with respect to the information, products, services, statements, figures, calculations, plans, images, logos, related graphics and are purely indicative in nature only. Whilst all reasonable care has been taking in providing all information, however, We or / and our related companies or/ and our representatives, consultants or / and our agents accept no responsibility for its completeness, accuracy, reliability, suitability or availability of any information contained herein for any action taken in reliance thereon by any party. Any reliance on information as contained in this website does not constitute an offer, inducement, representation, warranty or contract and may be relied upon at one’s risk and consequences.