Indospace raises USD 150 million from Qatar Investment Authority, others

IndoSpace, which develops industrial and logistics parks, has raised USD 150 million (about Rs 1,245 crore) from investors, including Qatar Investment Authority, in the second round of its new fund.

In a statement, Indospace said that it has completed the “second round of fundraising for IndoSpace Logistics Parks IV (ILP IV), securing an additional USD 150 million in investment”. The round was led by the Qatar Investment Authority, and Grosvenor’s Diversified Property Investments business. “Following the initial close of USD 243 million, this second round of funding increases the fund size to USD 393 million,” it said, adding that this demonstrates the continued confidence and support from leading global investors in IndoSpace’s advanced approach to industrial real estate development in India.

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The funds raised in this round will continue to advance IndoSpace’s mission of developing industrial and logistics parks across the top eight markets in India. ILP IV will add an additional 25-30 million square feet to the IndoSpace portfolio. The fund will focus on India’s largest logistics real estate markets:

Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune. “The establishment of ILP IV follows on from the first three development funds, which have a combined total of 58 million square feet of modern logistics real estate in India completed and under development,” the statement said. Qatar Investment Authority is the sovereign wealth fund of the State of Qatar. IndoSpace has a network of 51 logistics parks with 58 million square feet delivered/under development across 11 cities.