NDR InvIT Trust Lists On The National Stock Exchange

NDR InvIT Trust, the first “Perpetual Warehousing and Industrial Parks InvIT” in India, has announced the listing of its fully subscribed privately placed units aggregating to INR 8,800.00 million. 

The Trust is sponsored by NDR Ware Housing Private Limited, which has more than three decades of experience in the logistics sector with pan India presence. The Sponsor belongs to NDR Group, which is amongst the largest warehousing players in India, backed by Investcorp (the largest international investor of warehousing parks in the United States).

NDR InvIT Managers Private Limited is the Investment Manager and Axis Trustee Services Limited is the Trustee for the NDR InvIT Trust.

The Trust manages a portfolio comprising 33 warehouses with a total Leasable Area of approximately 16.91 million square feet across 12 cities. The assets are located in some of India’s top performing warehousing submarkets of Bengaluru (Karnataka), Chennai (Tamil Nadu), Pune (Maharashtra), Mumbai (Maharashtra), Kolkata (West Bengal), NCR (Haryana, Delhi), among the tier 1 cities. They also have presence in tier 2 cities including Puducherry, Coimbatore, Goa and Chhatrapati Sambhajinagar (formerly, Aurangabad).

The Portfolio managed by the Trust enjoys strong embedded growth prospects through a combination of contracted revenue, releasing, lease-up of vacant space and new construction within the Portfolio to accommodate tenant expansion. As a result, total revenue from operations is projected to grow organically by 41.21% between FY24 and FY26.

N Amrutesh Reddy, Managing Director, NDR InvIT Trust said, “NDR celebrates a pivotal moment, not just for the company, but for India's infrastructure and InvIT sector as a whole. This achievement reflects the team’s commitment to delivering sustainable value for all stakeholders. We're grateful for the investor confidence and remain committed to generating shared prosperity and a sustainable future.”

NDR InvIT Trust has an Issuer Rating of “AAA; Stable” (Provisional) by both India Ratings & Research (a FITCH Group Company) and CARE Edge Ratings Limited.

The Book Running Lead Manager to the issue was ICICI Securities Limited; the Registrar and Unit Transfer Agent are Link Intime India Private Limited.