Priyanka Tiwari
Share
The Welspun Group is reportedly in the advanced stages of selling a partial or full stake in its logistics and asset management firm, Welspun One, with bids ranging from $100 million to $120 million, sources told Moneycontrol.
While it remains unclear whether the promoters will exit entirely or retain a minority stake, the transaction could be among the first general partner-level alliances in India’s private equity sector.
Global Bidders in the Fray
The sale process has entered the bidding stage, drawing interest from a mix of domestic and global investors, including:
- Kotak Private Equity
- PAG (Asia-focused fund)
- CapitaLand (Ascendas-Firstspace, backed by Temasek)
- Keppel Land
- Starwood Capital Group
- Partners Group
- Hillhouse Investment
The winning bidder is expected to be finalized by the end of March 2025, sources added.
Leadership Continuity Expected
Despite the ownership change, Anshul Singhal, co-founder and managing director of Welspun One, is expected to continue leading the company post-transaction.
An industry observer noted that the move marks a shift towards greater institutional capital participation in logistics and industrial real estate in India.
Welspun One’s Growth and Future Plans
Welspun One has:
- Fully deployed its second fund worth ₹2,275 crore
- Initiated fundraising for its third fund, targeting ₹4,000 crore
- Grown its warehouse portfolio to 22 million square feet
- Set a goal to reach $1 billion in AUM by 2026
The firm is also diversifying into data centers and premium office spaces, with key projects including:
- World Trade Center Thane: ₹800 crore mixed-use development
- JNPA SEZ Warehousing Project (Navi Mumbai): ₹2,700 crore investment, touted as the largest single-location Grade-A warehousing facility in India
Institutional Interest Surges in Indian Warehousing Sector
India’s warehousing sector continues to attract significant foreign capital, driven by the growth of e-commerce and manufacturing. Key deals in recent years include:
- Blackstone's Horizon Industrial Parks and Greenbase platform with Hiranandani
- KKR and ADIA’s ₹13,000 crore investment in Reliance Retail’s warehousing assets
- Alta Capital (Hillhouse's India partner) acquiring 2.5 million sq. ft. from IndoSpace for $100 million in December 2024
Read More: Best Budget JioHotstar Plans Under ₹250 to Stream IPL 2025 on Mobile: Jio, Airtel & Vi Compared
