Welspun One, a company managing funds and development projects, announced raising a massive ₹2,275 crore for their second fund. This fund will be used to build warehouses in India. Welspun One has already invested nearly 40% of the funds across four projects. They plan to allocate the remaining amount over the next 3 to 4 quarters. This will significantly increase their portfolio, adding 8 million square feet of warehousing space.
The company successfully closed this fund on Monday, making it the most significant domestic fundraising in this sector. They secured capital from a wide range of investors, including around 800 high-net-worth individuals, family offices, and businesses.
This will significantly increase their portfolio, adding 8 million square feet of warehousing space for a total of around 18 million square feet.
The new warehouses will focus on modern facilities, like those in cities for fast distribution, cold storage for perishable goods, agriculture logistics, and those near ports and airports.
Balkrishan Goenka, Chairman of 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% to 8%, thereby enhancing the global competitiveness of our industries.”
The fund aims to streamline logistics operations and stimulate industrial growth by making investments in essential infrastructure, he added.
Anshul Singhal, Managing Director, Welspun One, said, “Embarking on the exploration of new-age warehousing assets represents an exciting journey for us at Welspun One. Our progress has been remarkable, having successfully established a well-capitalised platform poised to achieve an AUM of over $1 billion.”
Welspun One completed fundraising for their first fund of ₹500 crore. That fund invested in six projects across five cities, totalling 7.2 million square feet of warehousing space. Half of these projects are already finished, with the remaining half on track for completion in the next 4-6 quarters.
Their impressive client list for this fund includes big names like Tata Croma and Delhivery.
Welspun One is part of the larger Welspun World company, a global conglomerate worth $5 billion. Welspun World deals in various businesses, including pipes, home textiles, and flooring solutions.
