Welspun One Logistics Parks raises ₹500 crore in second fund

May 15, 2023

Welspun One Logistics Parks has concluded the initial close of its second Alternative Investment Fund, WOLP Fund 2, raising ₹500 crores from domestic high net worth and family office investors within a span of eight weeks. The funds will be used to invest in warehousing and industrial assets.

WOLP Fund 2 was launched in March 2023 to raise a corpus of ₹2,000 crore, including a green shoe option of ₹1,000 crore. Along with project-level debt, this is expected to give the fund enough dry powder to invest in projects, which entail an outlay of over ₹6,000 crore.

Also read: Welspun Group promoter company buys penthouse in Mumbai for Rs 230 crore

This fund is the successor to WOLP Fund 1, introduced in early 2021, which has since been fully committed across a portfolio of six projects of 6.5 msf of grade-A warehousing and industrial space. Over half of the fund portfolio is close to being leased and physically delivered. Fund 2 will further add 10-12 msf of new projects to this footprint, taking Welspun One’s total portfolio to 16-18 msf over the next 4-5 years.

“Welspun One is committed to providing India with best-in-class warehousing and industrial real estate in order to realise the government’s vision under the National Logistics Policy of reducing logistics costs as a percentage of GDP for India to globally competitive levels,” said Balkrishan Goenka, Chairman, Welspun Group. Adding,   “The proactive policy stance of the government coupled with rising consumption, exponential e-commerce growth, and sustained manufacturing expansion makes the sector well positioned to achieve exponential growth over the next several years.

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