Advertisement
The Gulf conflict has disrupted global supply chains, pushed...
REITs have changed the way commercial real estate is owned a...
What does it take to preserve a real estate legacy while bui...
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
NDR InvIT Trust, sponsored by NDR Warehousing Private Limited, has proposed converting its existing private InvIT into a public InvIT through an initial public offering of up to INR 750 crore. The proposed issue includes a fresh issue of units worth up to INR 450 crore and an offer-for-sale of up to INR 300 crore by Investcorp India Warehousing IFSC Trust. Funds from the fresh issue will largely support the acquisition of two warehousing entities, while the Trust plans to use the remaining amount for general purposes. The move comes as NDR continues expanding its warehousing and industrial asset portfolio across major logistics markets.
NDR InvIT Trust, sponsored by NDR Warehousing Private Limited, has proposed converting into a public Infrastructure Investment Trust through an initial public offering that could raise up to INR 750 crore. The proposal has been outlined in the draft offer document filed with the Securities and Exchange Board of India (Sebi).
The proposed IPO will comprise a fresh issue of units worth up to INR 450 crore and an offer-for-sale (OFS) of units aggregating up to INR 300 crore by Investcorp India Warehousing IFSC Trust.
A major portion of the proceeds from the fresh issue will be directed towards acquisitions. NDR InvIT plans to acquire 100 per cent of NDR Advanced Storage Private Limited for a consideration of up to INR 297.6 crore. It also proposes to acquire a 100 per cent interest in NDR Storewell Warehousing LLP for up to INR 84.2 crore.
Together, the two acquisitions could require up to INR 381.8 crore from the fresh issue proceeds. The balance is proposed to be used for general corporate purposes.
According to the offer document, the acquisitions are expected to expand and diversify the Trust's portfolio of income-generating warehousing assets. They are also intended to provide additional assets to support the Trust's future growth.
NDR InvIT Trust describes itself as India's first perpetual warehousing and industrial parks InvIT. As of June 2026, the Trust had a total leasable area of 22.97 million square feet, of which 21.58 million square feet had been developed.
Its portfolio is spread across several major warehousing and logistics markets, including Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR and Pune. The geographic spread gives the Trust exposure to both established consumption centres and important logistics markets.
The proposed public offering also follows a period of expansion for NDR InvIT. The Trust raised INR 410 crore through a bond issuance in March, with the funds intended for acquiring warehousing assets and expanding its logistics portfolio.
NDR InvIT also expanded its presence in southern India during the year through the acquisition of Grade-A warehousing assets in Kochi and Coimbatore for about INR 260 crore. The transaction added around 0.79 million square feet of leasable area to its portfolio.
The Trust has also been expanding through acquisitions in other markets. Earlier, it acquired a 1.78-million-square-foot warehousing asset in Hosur, Tamil Nadu, for INR 285 crore, further increasing its presence in the southern logistics market.
NDR Warehousing, which sponsors the InvIT, is among India's early warehousing developers. The JLL report cited in the offer document states that NDR Warehousing was the first entrant in the general warehousing segment to secure funding from a major global institution.
NDR InvIT is registered with Sebi and owns and operates warehousing and industrial assets across key logistics markets in India. The proposed conversion into a public InvIT would provide a broader investment structure for the platform while the fresh capital would support further asset additions.
Source PTI
Advertisement
Facebook
Whatsapp
