WOLP mobilises Rs1,000 cr

Mumbai: Welspun One Logistics Parks (WOLP) has raised Rs1,000 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 Rs8,000 crore, which will propel Welspun One to an Assets under management (AUM) of $1 billion, it said. “We are deeply grateful to our investors for their unwavering faith in us, which has powered our successful second fund-raise,” said Anshul Singhal, Managing Director at WOLP. 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, according to the company.