Welspun Group Acquired a Majority Stake in warehousing platform - ‘One Industrial Spaces’

by Shrutee K/DNS

Mumbai: The promoters of the US$ 2.7 billion Welspun Group announced 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 stakeholders. 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 management, 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 compliance 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.