New Delhi: Welspun One secured Rs 2,275 crore from investors for its second fund, which will be utilized to build warehouse properties. Welspun One, a holistic fund and development management platform, declared the completion of its second fund on Monday, amounting to Rs 2,275 crores, including co-investment commitments. The company stated that this is the biggest fundraising effort in the domestic market for this sector.
Funds were raised from a wide range of around 800 Limited Partners (LPs) or investors, which included high-net-worth and ultra-high-net-worth individuals, family offices, corporates, and domestic institutions. Welspun One's second fund has already invested almost 40 percent of its available capital in four investments. It plans to invest the rest of the funds in the following 3-4 quarters. This will increase Welspun One's current portfolio by 8 million square feet, bringing their total portfolio to approximately 18 million square feet, requiring a total project expenditure of about USD 1 billion.
The statement mentioned that Welspun One is concentrating on modern warehousing assets like urban distribution centers, cold chain facilities, agro logistics, and logistics located at ports and airports for fund 2.
Balkrishan Goenka, Chairman of Welspun World, stated that their dedication to improving essential logistics infrastructure perfectly matches India's goal of lowering logistics expenses from 14% to 8%, thereby boosting the international competitiveness of Indian industries. He stated that the fund's goal is to improve logistics operations and boost industrial growth through investments in necessary infrastructure.
Anshul Singhal, Managing Director of Welspun One, expressed that starting the journey to explore modern warehouse assets is an exhilarating endeavor for the company. We have made significant progress by creating a well-funded platform with the potential to reach an AUM of over USD 1 billion. In its initial fund, Welspun One gathered Rs 500 crore.
Till date, Welspun One's first fund is fully committed with six investments, aggregating to a development potential of 7.2 million square feet across 300 acres of land in five cities. Currently, about 50 per cent of this is already delivered, with the remaining 50 per cent scheduled for delivery over the next 4-6 quarters. The portfolio includes clients such as Tata Croma, Delhivery, FM Logistics, Asian Paints, and Ecom Express, amongst others.
Welspun One is the warehousing platform of the USD 5 billion global conglomerate Welspun World, which is one of India's fastest-growing multinationals with a leadership position in line pipes, home textiles, infrastructure, advanced textiles, and flooring solutions.
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