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Welspun One to raise Rs.1,000-Cr more for Fund 2

Economic Times  

Logistics and industrial real estate manager Welspun One has upsized its fund through co-investments, targeting commitments of up to INR 1,000 crore. This additional capital will provide WOLP Fund 2 with dry powder to tap into a ready pipeline of 5 million sq ft, which is currently at advanced stages of closure. Following this, the fund’s portfolio is now expected to grow from its existing nine investments to potentially 14-15 investments.It has already deployed INR 2,000 crore across nine Grade A warehousing assets through its WOLP Fund 2.With this expansion, Welspun One’s aggregate portfolio will grow to around 22 million sq ft, generating a projected net operating income (NOI) of INR 1,100 crore upon completion, leading to an Assets Under Management (AUM) of USD 1.3 billion (INR 11,050 crore).