IndoSpace and CPPIB Acquire Six Logistics Parks Worth ₹3,000 Crore
Indian warehouse developer IndoSpace and the Canada Pension Plan Investment Board (CPPIB) have jointly acquired six industrial and logistics parks valued at ₹30 billion ($336 million) through their IndoSpace Core venture. The partnership, formed in 2017, focuses on expanding high-quality logistics infrastructure across India. CPPIB, which holds a 93% stake in the platform, has committed ₹14 billion towards the latest acquisition.
The newly acquired parks are located in major logistics hubs including Bengaluru, Chennai, Delhi, Mumbai, and Pune, reflecting strong demand from companies seeking to diversify supply chains and tap into India’s economic momentum. According to IMARC Group, India’s warehousing market is projected to more than double to $37 billion by 2032, driven by manufacturing growth and the country’s rising role in global trade.
Anshuman Singh, Managing Director and CEO of IndoSpace, said demand for high-quality, compliant, and sustainable infrastructure is accelerating as India strengthens its position as a global manufacturing hub. In 2023, CPPIB further reinforced its India commitment by investing $205 million in IndoSpace’s new fund targeting $600 million in equity.
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