December 5, 2019, Mumbai: The promoters
of the US$ 2.7 billion Welspun Group announced
today that they have acquired a majority stake in One Industrial Spaces, an
integrated fund, development and asset management organization focused on the
warehousing sector in India. The investment was made by the promoters in their
personal capacity through a closely held family office investment vehicle.
The Welspun
Group is one of India’s fastest growing global conglomerates with business
interests in Line Pipes, Home Textiles, Infrastructure, Oil & Gas, Advanced
Textiles and Floorings Solutions. One Industrial Spaces was founded in July
2019 by Anshul Singhal.
As a result
of the acquisition, One Industrial Spaces will be re-branded as ‘Welspun One
Logistics Parks’. Welspun One will also be the exclusive development manager
for a portfolio of ready land assets owned by the promoters in their personal
capacity with an estimated value of US$ 50 million and development potential of
over 5 million square feet of Grade-A industrial/warehousing space. This
includes a marquee ~3 million square feet project in MMR.
Commenting on
the acquisition, Mr. B.K. Goenka, Chairman, Welspun Group said
“The warehousing
sector presents an attractive investment proposition as it provides both development
returns as well as stable long-term rental yields. Indian consumers demand same
day delivery both online and offline, which has resulted in an increased
strategic back-end storage requirement. We have been looking to enter this
space as warehousing demand is poised to grow aggressively. I am confident that
under the leadership of Anshul Singhal, Welspun One is well placed to scale
this business”.
Mr. Anshul Singhal, Managing Director, Welspun One also said “We are excited to have the
backing of the Welspun Group promoters to grow the vision of the company.
Currently, a big challenge for existing players in this space is the land
acquisition and approvals. As Welspun One, we are uniquely positioned to
address these challenges. We can now leverage their deep understanding and
experience in buying large land parcels and successfully executing millions of
square feet of industrial and infrastructure projects pan India. We believe
this will meaningfully improve the overall value proposition for our stake-holders.
Our goal is to emerge as India’s most preferred warehousing company”.
Welspun One
will continue to build its core business of fund, development and asset
man-agement, which includes raising funds from domestic and foreign
institutional investors to invest in the industrial asset class in India in an
organized, transparent and institutional manner.
About Welspun
Group
A US$ 2.7
billion enterprise, Welspun Group is one of India’s fastest growing
conglomerates with businesses in Line Pipes, Home Textiles, Infrastructure, Oil
& Gas, Advanced Textiles and Floorings Solutions. The Group has a strong
foothold in over 50 countries with 26,000+ employees and over 100,000
shareholders. Headquartered in Mumbai, Welspun Group’s manufacturing facilities
are strategically located in India, USA and Saudi Arabia. Known for
technological and operational excellence, the Group has established a
leadership position in the Line Pipe & Home Textiles sectors globally. Its
clients include most of the global Fortune 100 companies.
About One
Industrial Spaces
One Industrial Spaces was
founded to source and develop feasible land parcels which suit institutional
investors, get leased by valued occupiers, whilst maintaining high levels of
com-pliance and zero tolerance to regulatory lapses across the project
lifecycle.
The fund, asset and
development management arms of the organization, leveraging the team’s expertise,
covers every critical component in the delivery of large format, institutional
grade warehousing and industrial parks- from site selection, sourcing & due
diligence, to financing, construction, leasing & exit. One Industrial Spaces focuses on key warehousing micro markets across India, by connecting
landowners, investors, consultants and customers using a combination of
technology and processes in an integrated manner.
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