New Delhi, Welspun One has raised Rs 2,275 crore from investors for its second fund and would use the capital to develop warehousing properties.
Welspun One, an integrated fund and development management platform, on Monday announced the successful close of its second fund totaling Rs 2,275 crore, including co-investment commitments.
This marks the largest national fundraising in this space, the company stated.
The capital came from a diverse group of around 800 limited partners (LPs) or investors, including high- and ultra-high-net-worth individuals, family offices, corporations and national institutions.
Welspun One's second fund has already committed almost 40 per cent of its investable capital across four investments. It expects to commit the remaining capital over the next 3-4 quarters.
This will add 8 million sq ft to Welspun One's existing portfolio of 10 million sq ft, taking its aggregate portfolio to around 18 million sq ft, implying a total project outlay of around $1 billion.
Welspun One's focus for Fund 2 is on new-age warehousing assets such as urban distribution centres, cold chain, agricultural logistics and port and airport logistics, the statement said.
Balkrishan Goenka, Chairman, Welspun World, said: "Our commitment to advancing critical logistics infrastructure is in perfect alignment with India's strategic objective of reducing logistics costs from 14 per cent to 8 per cent, thereby improving competitiveness. of our industries".
By making investments in essential infrastructure, he said, the fund aims to streamline logistics operations and stimulate industrial growth.
Anshul Singhal, CEO of Welspun One, said: "Embarking on the exploration of new-age storage assets represents an exciting journey for us at Welspun One. Our progress has been remarkable, having successfully established a well-capitalized platform poised to achieve an AUM of more than $1 billion."
Welspun One had raised Rs 500 crore in its first fund.
To date, Welspun One's first fund is fully committed to six investments, totaling development potential of 7.2 million sq ft across 300 acres of land across five cities.
Currently, about 50 percent of this is already delivered, with the remaining 50 percent scheduled to be delivered in the next 4 to 6 quarters.
The portfolio includes clients such as Tata Croma, Delhivery, FM Logistics, Asian Paints and Ecom Express, among others.
Welspun One is the warehousing platform of the $5 billion global conglomerate Welspun World, which is one of India's fastest growing multinationals with a leading position in pipes, home textiles, infrastructure, advanced textiles and flooring solutions.
Welspun One, an integrated fund and development management platform, on Monday announced the successful close of its second fund totaling Rs 2,275 crore, including co-investment commitments.
This marks the largest national fundraising in this space, the company stated.
The capital came from a diverse group of around 800 limited partners (LPs) or investors, including high- and ultra-high-net-worth individuals, family offices, corporations and national institutions.
Welspun One's second fund has already committed almost 40 per cent of its investable capital across four investments. It expects to commit the remaining capital over the next 3-4 quarters.
This will add 8 million sq ft to Welspun One's existing portfolio of 10 million sq ft, taking its aggregate portfolio to around 18 million sq ft, implying a total project outlay of around $1 billion.
Welspun One's focus for Fund 2 is on new-age warehousing assets such as urban distribution centres, cold chain, agricultural logistics and port and airport logistics, the statement said.
Balkrishan Goenka, Chairman, Welspun World, said: "Our commitment to advancing critical logistics infrastructure is in perfect alignment with India's strategic objective of reducing logistics costs from 14 per cent to 8 per cent, thereby improving competitiveness. of our industries".
By making investments in essential infrastructure, he said, the fund aims to streamline logistics operations and stimulate industrial growth.
Anshul Singhal, CEO of Welspun One, said: "Embarking on the exploration of new-age storage assets represents an exciting journey for us at Welspun One. Our progress has been remarkable, having successfully established a well-capitalized platform poised to achieve an AUM of more than $1 billion."
Welspun One had raised Rs 500 crore in its first fund.
To date, Welspun One's first fund is fully committed to six investments, totaling development potential of 7.2 million sq ft across 300 acres of land across five cities.
Currently, about 50 percent of this is already delivered, with the remaining 50 percent scheduled to be delivered in the next 4 to 6 quarters.
The portfolio includes clients such as Tata Croma, Delhivery, FM Logistics, Asian Paints and Ecom Express, among others.
Welspun One is the warehousing platform of the $5 billion global conglomerate Welspun World, which is one of India's fastest growing multinationals with a leading position in pipes, home textiles, infrastructure, advanced textiles and flooring solutions.