International Finance Corporation (IFC) is planning to invest around $75 million (Rs 550 crore) in Indospace Logistics Parks III LP. The funding will provide Indospace long-term finance in these times of the Covid-19 pandemic to continue investing and developing select projects envisaged under the fund over the next two years. IFC anticipates that its commitment will provide a significant positive step forward to the Indian warehousing and industrial property market, which is in its evolutionary phase and now going through a severe slowdown due to Covid-19.
Indospace Logistics Parks III LP is a $580 million 2018 vintage fund for developing logistics and industrial parks across India. The fund invests in warehousing and industrial property assets through various special purpose vehicles.