IndoSpace Core, the joint venture between CPP Investments (Canada Pension Plan Investment Board) and Mumbai-headquartered IndoSpace, is acquiring six industrial and logistics parks in India valued at about ₹3,000 crore (C$471 million).
The New Indian Express published the earliest report about this on November 25, 2025. Business Standard and The Economic Times followed later the same day.
IndoSpace is India’s leading developer, investor, and manager of Grade-A industrial and logistics real estate, with a pan-India presence and a reputation for pioneering modern supply chain infrastructure.
Global institutional investors are doubling down on India’s logistics and industrial real estate; with CPP’s capital and IndoSpace’s local expertise, IndoSpace Core is positioned as a dominant player.
While political relations between India and Canada remain strained, Indian authorities see investments like IndoSpace Core’s acquisition as economic positives. The government’s silence on this deal suggests a pragmatic approach: separating political disagreements from the need to attract global capital into India’s logistics and infrastructure sectors.
India’s government typically welcomes foreign direct investment (FDI) in logistics, infrastructure, and manufacturing, as these sectors are critical for Make in India and supply chain modernization.
Notably, Indian government has identified logistics as a national priority sector, with initiatives like the PM Gati Shakti plan and the National Logistics Policy (2022). Industrial and logistics real estate is considered a low-risk, high-value FDI avenue.
Key details of the acquisition
- Buyer: IndoSpace Core, a joint venture formed in 2017 by CPP Investments and IndoSpace.
- Transaction value: Approximately ₹3,000 crore (C$471 million).
- CPP Investments stake: 93% stake in IndoSpace Core.
- Funding commitment: CPP Investments will contribute ₹1,400 crore (C$217 million) to finance the acquisition.
- Assets acquired: Six industrial and logistics parks located in Bengaluru, Chennai, Delhi, Mumbai, and Pune.
- Scale: The six parks collectively span 380 acres with about 9 million sq. ft. of leasable area.
Strategic impact
- Largest operator in India: IndoSpace Core becomes India’s largest operator of stabilized industrial and logistics real estate, expanding to 22 million sq. ft. across 948 acres.
- Client base: The parks serve over 120 global and domestic companies.
- Sector growth: Logistics momentum driven by e-commerce, manufacturing demand, and supply chain modernization.
Why this matters
- For CPP Investments: Aligns with a strategy of generating risk-adjusted returns in high-growth markets.
- For IndoSpace: Consolidates leadership and scale in India’s logistics real estate sector.
- For India’s economy: Strengthens logistics infrastructure supporting manufacturing competitiveness, export growth, and resilience.
Global institutional investors are doubling down on India’s logistics and industrial real estate; with CPP’s capital and IndoSpace’s local expertise, IndoSpace Core is positioned as a dominant player.
While political relations between India and Canada remain strained, Indian authorities see investments like IndoSpace Core’s acquisition as economic positives. The government’s silence on this deal suggests a pragmatic approach: separating political disagreements from the need to attract global capital into India’s logistics and infrastructure sectors.
India’s government typically welcomes foreign direct investment (FDI) in logistics, infrastructure, and manufacturing, as these sectors are critical for Make in India and supply chain modernization.
Notably, Indian government has identified logistics as a national priority sector, with initiatives like the PM Gati Shakti plan and the National Logistics Policy (2022). Industrial and logistics real estate is considered a low-risk, high-value FDI avenue.
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