Welspun group enters warehousing space

Welspun group enters warehousing space Mumbai, Dec 5 (PTI): The Welspun Group has acquired a majority stake in One Industrial Spaces for an undisclosed amount, marking its entry into the warehousing space. The investment is made by the Welspun promoters in their personal capacity through a closely held family office. Led by former head of Embassy Industrial Parks Anshul Singhal, One Industrial Spaces, which is an integrated fund, development and asset management organisation focused on the warehousing sector, will now be re-branded as Welspun One Logistics Parks, the statement said, adding Singhal will be the managing director of the new entity.

Warehousing sector presents an attractive investment proposition as it provides both development returns as well as stable long-term rental yields. We have been looking to enter this space as warehousing demand is poised to grow aggressively, Welspun chairman BK Goenka said. *********** MCXCCL gets ESMA recognition The Multi Commodity Exchange Clearing Corporation (MCXCCL), a wholly-owned subsidiary of MCX, has been recognized by the European Securities and Markets Authority (ESMA) as a third-country central counterparty.

The recognition will help European participants to apply lower risk weighting towards their exposures to MCXCCL and be benefitted towards lower capital requirements, the company said Thursday..