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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.”

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Mr. Anshul Singhal, Managing Director, Welspun One

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.”

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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, the 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.

About Anshul Singhal

Anshul is the Managing Director of Welspun One Logistics Parks, an integrated fund, asset and development management organization to deliver large format, institutional Grade A warehousing and industrial parks in key micro markets across India.

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Anshul Singhal founded One Industrial Spaces and in July 2019. On December 01, 2019, Welspun Promoters acquired a majority stake in the company, re-branding it to Welspun One Logistics Parks.

From 2014 to 2019, Anshul was the Director & CEO of Embassy Industrial Parks (EIP), a joint venture between Warburg Pincus and the Embassy Group. The Company managed a corpus of USD 1 billion (debt and equity) and within 4.5 years became India’s second largest & fastest growing warehousing platform with a cumulative development pipeline of 35 million square feet. Anshul spearheaded the development of modern industrial and logistic warehousing spaces, the first of their kind to adhere International standards of quality. He was responsible for identifying and acquiring over 1300 acres of land successfully and had overall business and P&L responsibility including identification of markets, obtaining planning permissions, master planning, development, leasing, market positioning and O&M.

In parallel to this Anshul was instrumental in successfully delivering a single asset 130MW Solar Farm in Karnataka for a Joint Venture with Blackstone.

Anshul has served in leadership roles both in Infrastructure and Construction. This includes a 7-year stint (as Director of JSW Severfield Structures Limited, (JSSL) a 50:50 joint venture company between USD 20 Billion JSW Steel and Severfield Rowen Plc, UK- Europe’s largest structural steel construction business).

Anshul’s 15-year leadership experience also includes as an Managing Director for an international JV with Dubai Investment Industries, (DII, UAE), before moving on to the Jindal Group.

He has a degree in Economics and Business and is a member of the Royal Institution of Chartered Surveyors (RICS) and GRI Club.

During his college days in Georgia USA, he was amongst the countable Indians to have interned working with the White House, Pentagon, IMF & World Bank.


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