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The fund has received regulatory approval from the Securities and Exchange Board of India (SEBI) for its capital-raising initiative.
With a base corpus of ₹250 crore and an additional ₹250 crore green shoe option, the fund aims to leverage the growth potential in India’s Tier II and Tier III cities.
“The logistics and warehousing sectors are pivotal to India’s ambition of becoming a $5 trillion economy. The fund, structured as a five-year rupee-denominated instrument with a potential two-year extension, is targeting high-net-worth individuals (HNIs), family offices, and business houses,” said Nirav Kothary, Director of Godwitt Construction, the fund’s sponsor.
Warewitt AIF will venture into the industrial and logistics hubs of Gujarat, Maharashtra, and Tamil Nadu, starting with Ahmedabad, Vadodara, Surat, and Dahej in Gujarat, and Pune and Chennai in other regions.
The fund’s launch comes at a time when India’s industrial and logistics landscape is undergoing a shift, driven by government initiatives like Make in India and the decentralisation of manufacturing and warehousing operations.“The concept of Warewitt AIF is built on recognising the untapped potential of smaller cities. With factors like lower land costs and favourable policies driving growth outside metropolitan centers, these regions are becoming crucial nodes in India’s industrial supply chain,” said Kothary.Warewitt AIF benefits from the experience of its sponsor, Godwitt Construction, a developer in Western India with over 2 million square feet of developed Grade A industrial spaces in Gujarat and a pipeline of over 4 million square feet.
“India’s per capita warehouse space stands at just 0.02 square meters, compared to 4.4 square meters in the U.S. This stark difference highlights the immense opportunity in the market,” said Anup Shah investment manager, Warewitt AIF.
Experts believe that India’s warehousing and logistics sectors are still in their nascent stages compared to global markets with vast potential.
“The industrial and logistics asset class is poised for exponential growth as e-commerce, manufacturing, and global supply chain reconfigurations demand robust infrastructure,” Shah said.
Warewitt AIF plans to leverage this demand by deploying capital strategically and delivering consistent, risk-adjusted returns to its investors.
The Indian warehousing sector is on the brink of a transformation, with e-commerce, third-party logistics (3PL), and omnichannel retail emerging as the primary drivers of this warehousing boom, particularly for high-quality Grade A spaces.
According to JLL India, the demand for warehouse space is projected to reach approximately 1.2 billion sq. ft. by 2027 across Grade A, B, and C warehouses across all Indian cities. This growth is not just about quantity but quality as well.
The report highlights a significant shift towards Grade A warehousing, with stock expected to grow to an impressive 400 million sq. ft by 2027 from 290 million sq. ft in 2023.
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