S Pallonji-ADIA plans big ticket investment in logistics

In order to expand its logistics business across the country, the Shapoorji Pallonji group has recently partnered the Abu Dhabi Investment Authority (ADIA) to generate worth $1.2-billion private equity fund to be invested in countrywide logistics and warehousing centers. As a matter of fact, the move is said to be one of the biggest fundraising exercise in the logistics space in the country, said multiple sources, claiming that the partners will raise funds in two tranches of $600 million each and Shapoorji will eventually put in $100 million and the ADIA $500 million, they said adding that the documentation for the fund would end soon and that Shapoorji has also launched an aggressive exercise for acquiring land parcels for the proposed spacious and highly equipped logistics and warehousing Centers.