Welspun Group’s promoters acquire majority stake in One Industrial Spaces

The promoters of Welspun Group have acquired a majority stake in One Industrial Spaces, an integrated fund, development and asset management organisation 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 deal value has not been disclosed.

Post acquisition, One Industrial Spaces, which was founded in July 2019 by Anshul Singhal, 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 $50 million and development potential of over 5 million square feet of Grade-A industrial or warehousing space.

Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.