NEW DELHI: Welspun One Logistics Parks (WOLP) on Tuesday said it has raised Rs 1,000 crore within four months of launching its second warehousing-focussed fund.
The company also announced the opening of its “green shoe” option to raise an additional Rs 1,000 crore.
The potential corpus could reach Rs 2,000 crore upon completion of the green shoe option, which would rank it among the largest in the domestic real estate alternatives space, WOLP said in a statement.
The plan entails an overall investment outlay of over Rs 8,000 crore, which will propel Welspun One to an Assets under management (AUM) of $1 billion, it said.
The warehousing sector continues to exhibit strong growth with record-high demand of 51.3 million square feet in FY23, implying a CAGR of 24 per cent during FY17-23.
With an advanced pipeline of land parcels in key warehousing micro markets such as Mumbai Metropolitan Region. Chennai, Bangalore, and Lucknow already in place, the fund-2 is well positioned to add 10-12 million square feet of new projects to its existing portfolio, WOLP said.