- ALSO READ
Welspun India seeking opportunity in kids segment through pact with Disney
Welspun One Logistics Parks Fund 1 commits Rs 500 crore warehousing AIF
Indian-origin science teacher wins Prime Minister's prize in Australia
Costliest property deal: Welspun's BK Goenka buys triplex for Rs 240 crore
Fire breaks out at HDFC Bank in Greater Kailash, no casualty reported
-
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.
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.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.
Download the Business Standard App for latest Business News and Market News .
First Published: Mon, March 13 2023. 19:05 IST
RECOMMENDED FOR YOU