Skip to content Skip to Search
Skip navigation

Qatar leads $150m funding for Indian industrial park fund

By Pramod Kumar
The new funding will add another 25-30 million sq ft to IndoSpace’s logistics portfolio across India Indospace
The new funding will add another 25-30 million sq ft to IndoSpace’s logistics portfolio across India

Qatar Investment Authority (QIA) has led the $150 million fundraising round for the new fund of IndoSpace, which develops grade-A industrial and logistics parks in India.

QIA is the world’s 10th largest sovereign wealth fund with $475 billion of assets under management, the Sovereign Wealth Fund Institute said in May.

The fundraising round also included UK-based Grosvenor’s Diversified Property Investments business.

“QIA and Grosvenor’s participation in this round reflects the attractive opportunity to develop modern grade A industrial and logistic parks in the world’s fastest-growing economy,” IndoSpace said in a statement.

Following the initial close of $243 million, the second round of funding increases the fund – IndoSpace Logistics Parks IV – size to $393 million. The funding will be used to develop modern industrial and logistics parks across the top eight markets in the South Asian country.

The new funding will add another 25-30 million square feet to IndoSpace’s logistics real estate portfolio in cities such as Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune.

The establishment of ILP IV follows from the first three development funds, which have 58 million square feet of modern logistics real estate in India completed and under development.

QIA last month said it would invest $1 billion for a 1 percent stake in India’s Reliance Retail Ventures, nearly doubling its valuation to $100 billion from its last funding round.

The Qatari sovereign wealth fund’s direct investments in India have largely focused on venture capital, particularly in online retail.

These have included food delivery startups Swiggy and Rebel Foods, as well as e-commerce platform Flipkart, according to Global SWF.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]