Bengaluru: NDR InvIT Trust has acquired two operational warehousing assets in Kochi and Coimbatore for around ₹260 crore, continuing its buyout momentum this year.
This expansion adds about 0.79 million sq ft of leasable area for the National Stock Exchange-listed company. NDR InvIT has acquired the assets from sponsor NDR Warehousing Pvt. Ltd.
The acquisitions will be executed through a mix of cash consideration and unit swap, the Trust said on Friday.
NDR InvIT, which counts Bahrain-based alternative investment manager Investcorp as an investor, is India’s first perpetual warehousing and industrial parks InvIT.
A perpetual warehousing InvIT lets investors pool money into a portfolio of warehousing and logistics assets that are managed and operated to generate consistent, long-term rental income.
With the latest acquisition, the company’s total operating area now stands at 22.96 million sq ft across 18 cities, strengthening its pan-India footprint.
“Going forward, we see significant opportunities to scale our platform across south India and other under-penetrated hubs, backed by strong occupier demand and improving infrastructure,” Amrutesh Reddy, managing director, NDR Warehousing Pvt. Ltd, said.
“Our focus will be on accelerating growth while maintaining asset quality and delivering sustainable distributions to our investors,” Reddy added in a statement.
Infrastructure investment trusts (InvITs) have emerged as a transformative instrument in India’s infrastructure financing landscape, bridging the gap between large-scale project funding requirements and investor appetite for stable, long-term returns.
Roads dominate the InvIT space, followed by energy and logistics; penetration in renewables, airports, ports, and wind remains minimal, leaving significant headroom for growth, property advisory Knight Frank India said last year.
NDR InvIT has also been a growth curve.
In March, the trust raised ₹410 crore through bond issuance, which was fully subscribed, reflecting strong investor demand for good quality infrastructure-backed assets. The issuance was anchored by the International Finance Corporation (IFC), with participation from India Infrastructure Finance Company Ltd (IIFCL), which subscribed to ₹205 crore of the total issue.
In February, the company acquired a 1.78 million sq ft Grade-A, operational warehousing asset in Hosur, Tamil Nadu, for ₹285 crore. In March, it acquired another asset in Pune’s Chakan-Talegaon industrial belt for ₹203 crore.