Welspun One Logistics Parks launches second fund of Rs 2,000 crore

Welspun One Logistics Parks, an integrated fund and development management platform focused on warehousing and industrial realty, on Monday launched its second fund of Rs 2,000 crore, including a green shoe option of Rs 1,000 crore.

Welspun launched the first fund in early 2021 and had got capital commitments worth Rs 500 crore from high net-worth investors and family offices and the capital was invested in companies, aggregating to 6.5 million squre feet and it expects to deliver 50 per cent of the portfolio by mid-2023, the company said in a statement.

It said the second fund has the largest development plan of 8-12 million square feet across tier 1 & 2 cities and also in-city projects in Mumbai, Delhi and Bengaluru.

Also Read: LIC's debt exposure in Adani group companies dips marginally to Rs 6,183 crore as of March 5

The warehousing industry is now a fully integrated priority sector. Owing to the favourable policy changes, this asset class has drawn significant interest of national investors, said Balkrishan Goenka, chairman of the Welspun group.

He also claimed that Welspun One is the only warehousing platform to permit domestic capital to be invested only in the domestic warehousing sector. Given this Welspun One will continue to develop grade-A warehouses across the country.

Anshul Singhal, managing director of Welspun One Logistics Parks, said the logistics space has already attracted USD 5-6 billion of foreign institutional capital so far.

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.