Welspun raises Rs 300 cr in first warehousing AIF

16 Mar 2021 Editorial Team

Welspun One Logistics Parks (WOLP), an integrated fund, development and asset management platform, has raised upwards of Rs 300 crore from a set of investors comprising of domestic high-net-worth investors and family offices, towards the first close of its Alternative Investment Fund (AIF), Welspun One Logistics Parks Fund 1.

Launched early this year, it is India’s first warehousing AIF for domestic investors—key distributors of which are Sanctum Wealth Management, Edelweiss and InCred Wealth.

The amount raised is a part of its Rs 500 crore maiden fund which when fully raised, along with associated bank financing will enable Welspun One to develop Grade-A warehousing assets worth Rs 1,900 crore, including its flagship 2.7 million sq ft project in Bhiwandi which is currently underway. In total, the company expects to deliver a portfolio with an estimated leasable area of 7 to 8 million sq ft over the next three to four years in pre-identified markets such as Mumbai, Pune, Bengaluru, NCR, Chennai, Kolkata and Lucknow.

Welspun One’s investment strategy is focused on sourcing and developing feasible land parcels which suit institutional investors and get leased by valued occupiers, whilst maintaining compliance, safety and zero tolerance to regulatory lapses across the project lifecycle.

WOLP is backed by a global conglomerate, $2.7 billion Welspun Group, with businesses in line pipes, home textiles, infrastructure, steel, advanced textiles and flooring solutions.

Written from a company news release.

Image: Welspun One Logistics Park Bhiwandi project

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