Welspun One has successfully raised Rs 2,275 crore for its second fund focused on developing warehousing properties. The integrated fund and development management platform announced this achievement, marking it as the largest domestic fundraise in the sector. The funding, which includes co-investment commitments, comes from a diverse group of approximately 800 investors, including high-net-worth individuals, family offices, corporates, and domestic institutions.
Currently, Welspun One’s second fund has allocated nearly 40% of its capital across four investments. Over the next 3-4 quarters, it plans to deploy the remaining capital, which will expand its portfolio by adding 8 million square feet to the existing 10 million square feet. This growth will bring the total portfolio to around 18 million square feet, with a projected investment of approximately $1 billion.
The focus of Welspun One’s second fund is on modern warehousing assets such as urban distribution centres, cold chain facilities, agro logistics, and logistics hubs near ports and airports. Balkrishan Goenka, Chairman of Welspun World, emphasized the fund’s role in enhancing India’s logistics infrastructure, aligning with the country’s goal of reducing logistics costs from 14% to 8% to boost global competitiveness.
Anshul Singhal, Managing Director of Welspun One, highlighted the platform’s progress towards managing over $1 billion in assets and its commitment to exploring new-age warehousing solutions. Previously, Welspun One raised Rs 500 crore in its first fund, fully deploying it across six investments totaling 7.2 million square feet in five cities. Fifty percent of these developments have been completed, with the rest scheduled for delivery in the next 4-6 quarters. Clients include Tata Croma, Delhivery, FM Logistics, Asian Paints, and Ecom Express.
Welspun One operates as the warehousing arm of Welspun World, a $5 billion global conglomerate with interests in line pipes, home textiles, infrastructure, advanced textiles, and flooring solutions.
