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

The company on Monday announced the launch of its second fund of Rs 2,000 crore, including a green shoe option of Rs 1,000 crore.

The first fund was launched by Welspun in early 2021 and received capital commitments worth Rs 500 crore from high net-worth investors and family offices. By mid-2023, the company expects to deliver 50 percent of its portfolio of companies, aggregating 6.5 million square feet in total.

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.

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

The Chairman also said 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.