Bengaluru: NDR InvIT, India’s first perpetual warehousing and industrial parks InvIT, plans to raise around Rs 726.8 crore through preferential issue to support its ongoing expansion strategy — the latest in a rapid series of capital actions that underscore the Trust’s ambition to become the country’s pre-eminent logistics infrastructure platform.
The preferential issue, conducted in compliance with SEBI InvIT Regulations, will bring in cash proceeds earmarked for asset acquisitions — beginning with NDR Space Private Limited — and capital expenditure in line with the Trust’s growth roadmap.
The announcement comes barely weeks after NDR InvIT closed a Rs 410 crore bond issuance in March 2026 — anchored by the International Finance Corporation (IFC), with India Infrastructure Finance Company Limited (IIFCL) subscribing to Ra 205 crore of the total issue. The five-year bonds, rated AAA (Stable), were fully subscribed and carry a coupon of 7.61%, reflecting strong institutional demand for high-quality infrastructure-backed assets. Together, the two capital raises represent a combined mobilisation of over Rs 1100 crore within a matter of weeks, signalling a decisive shift into a higher gear.
The pace of acquisitions has matched the fundraising tempo. Just days ago, the Trust acquired two grade-A, fully operational warehousing properties in Kochi and Coimbatore for approximately Rs 260 crore, adding 0.79 million square feet to its portfolio — taking its total operational area to approximately 22.96 million square feet. Before that, in March 2026, the Trust signed SPAs to acquire 100% of NDR Unique Space Private Limited for Rs 285 crore and 100% of NDR Bigbox Private Limited, a Pune warehouse valued at Rs 208 crore. In February, the Trust acquired a grade-A warehousing asset in Hosur, Tamil Nadu, for Rs 285 crore — a 1.78 million square foot facility that is 100% occupied with a weighted average lease expiry (WALE) of 23.95 years — marking NDR InvIT’s entry into its 17th city.
The current preferential issue now enables the Trust to fund its third and largest pending acquisition — NDR Space Private Limited — completing a trifecta of deals executed through Securities Purchase Agreements dated March 19, March 30, and April 17, 2026. Unit swaps across all three assets total Rs 120.5 crore, with the remainder funded through a combination of bond proceeds and the fresh preferential issue.
This acquisition spree is, in many ways, the culmination of a growth arc that began at listing. The Trust commenced operations on February 8, 2024, following a public offer comprising a fresh issue of units aggregating Rs 694.1 crore. In its first full financial year, it added 2.01 million square feet of grade-A industrial and warehousing assets across Surat, Hyderabad, Bengaluru, and Pune, while also becoming the first InvIT in India to issue Sustainability Linked Bonds, with participation from IFC and NaBFID.
Sandeep Jain, CFO of NDR InvIT, said the preferential issue and proposed acquisitions represent a significant milestone in the Trust’s growth journey. He noted that the capital raise strengthens the Trust’s capacity to pursue quality investment opportunities while maintaining disciplined capital allocation, with a continued focus on portfolio expansion, platform development, and long-term value creation for unitholders.
With an AUM of 22.96 million square feet spread across more than 75 warehouses and 42 industrial parks in 18 cities, NDR InvIT now serves over 100 tenants across sectors including third-party logistics, e-commerce, technology, engineering, automobiles, white goods, retail, and FMCG. The Trust’s ability to raise institutional capital at scale — from global development finance institutions like IFC to domestic infrastructure lenders — points to a platform that has rapidly earned credibility well beyond its two-year listing history.
The momentum shows little sign of abating.
NDR InvIT Trust has an AUM of 22.96 million square feet. The Trust’s portfolio spans over 75 warehouses and 42 industrial parks across 18 cities in India, leased to more than 100 tenants across sectors such as third-party logistics, e-commerce, technology, engineering, automobiles, white goods, retail, and FMCG.
The preferential issue, conducted in compliance with SEBI InvIT Regulations, will bring in cash proceeds earmarked for asset acquisitions — beginning with NDR Space Private Limited — and capital expenditure in line with the Trust’s growth roadmap.
The announcement comes barely weeks after NDR InvIT closed a Rs 410 crore bond issuance in March 2026 — anchored by the International Finance Corporation (IFC), with India Infrastructure Finance Company Limited (IIFCL) subscribing to Ra 205 crore of the total issue. The five-year bonds, rated AAA (Stable), were fully subscribed and carry a coupon of 7.61%, reflecting strong institutional demand for high-quality infrastructure-backed assets. Together, the two capital raises represent a combined mobilisation of over Rs 1100 crore within a matter of weeks, signalling a decisive shift into a higher gear.
The pace of acquisitions has matched the fundraising tempo. Just days ago, the Trust acquired two grade-A, fully operational warehousing properties in Kochi and Coimbatore for approximately Rs 260 crore, adding 0.79 million square feet to its portfolio — taking its total operational area to approximately 22.96 million square feet. Before that, in March 2026, the Trust signed SPAs to acquire 100% of NDR Unique Space Private Limited for Rs 285 crore and 100% of NDR Bigbox Private Limited, a Pune warehouse valued at Rs 208 crore. In February, the Trust acquired a grade-A warehousing asset in Hosur, Tamil Nadu, for Rs 285 crore — a 1.78 million square foot facility that is 100% occupied with a weighted average lease expiry (WALE) of 23.95 years — marking NDR InvIT’s entry into its 17th city.
The current preferential issue now enables the Trust to fund its third and largest pending acquisition — NDR Space Private Limited — completing a trifecta of deals executed through Securities Purchase Agreements dated March 19, March 30, and April 17, 2026. Unit swaps across all three assets total Rs 120.5 crore, with the remainder funded through a combination of bond proceeds and the fresh preferential issue.
This acquisition spree is, in many ways, the culmination of a growth arc that began at listing. The Trust commenced operations on February 8, 2024, following a public offer comprising a fresh issue of units aggregating Rs 694.1 crore. In its first full financial year, it added 2.01 million square feet of grade-A industrial and warehousing assets across Surat, Hyderabad, Bengaluru, and Pune, while also becoming the first InvIT in India to issue Sustainability Linked Bonds, with participation from IFC and NaBFID.
Sandeep Jain, CFO of NDR InvIT, said the preferential issue and proposed acquisitions represent a significant milestone in the Trust’s growth journey. He noted that the capital raise strengthens the Trust’s capacity to pursue quality investment opportunities while maintaining disciplined capital allocation, with a continued focus on portfolio expansion, platform development, and long-term value creation for unitholders.
With an AUM of 22.96 million square feet spread across more than 75 warehouses and 42 industrial parks in 18 cities, NDR InvIT now serves over 100 tenants across sectors including third-party logistics, e-commerce, technology, engineering, automobiles, white goods, retail, and FMCG. The Trust’s ability to raise institutional capital at scale — from global development finance institutions like IFC to domestic infrastructure lenders — points to a platform that has rapidly earned credibility well beyond its two-year listing history.
The momentum shows little sign of abating.
NDR InvIT Trust has an AUM of 22.96 million square feet. The Trust’s portfolio spans over 75 warehouses and 42 industrial parks across 18 cities in India, leased to more than 100 tenants across sectors such as third-party logistics, e-commerce, technology, engineering, automobiles, white goods, retail, and FMCG.
