NDR InvIT Trust Successfully Lists Privately Placed Units worth INR 8,800.00 Million
NDR InvIT Trust, a pioneering “Perpetual Warehousing and Industrial Parks InvIT”, has announced the listing of its privately placed units, which were fully subscribed and have a combined value of INR 8,800.00 million. This listing marks a significant milestone for not only the company but also India’s infrastructure and InvIT sector as a whole.
A Reliable Sponsor
The Trust is sponsored by NDR Ware Housing Private Limited, a company with over three decades of experience in the logistics sector and a presence all across India. Being a part of the NDR Group, which is one of India’s largest warehousing players, further adds to its credibility. Moreover, their association with Investcorp, the largest international investor of warehousing parks in the United States, strengthens their position in the market.
Experienced Management
The NDR InvIT is managed by NDR InvIT Managers Private Limited, a renowned Investment Manager in the industry. Axis Trustee Services Limited acts as the Trustee for the NDR InvIT Trust. With their expertise and diligent approach, investors can be assured of excellent management and sustainable growth.
Diverse Portfolio
The Trust’s portfolio comprises 33 warehouses, totaling approximately 16.91 million square feet of leasable area. These warehouses are strategically located in 12 cities across India, including prominent locations such as Bengaluru, Chennai, Pune, Mumbai, Kolkata, Delhi, and other tier 1 and tier 2 cities. This geographic diversification not only enhances the trust’s market presence but also allows for better risk management.
Promising Future Prospects
The NDR InvIT Trust’s portfolio is poised for growth due to a combination of factors. These include contracted revenue, releasing of vacant space, lease-up of additional spaces, and new construction to accommodate tenant expansion within the portfolio. As a result, the trust’s total revenue from operations is projected to grow organically by 41.21% between FY24 and FY26. This expected growth provides attractive potential returns for investors.
Issuers of High Creditworthiness
NDR InvIT Trust enjoys an “AAA; Stable” provisional Issuer Rating from India Ratings & Research, a FITCH Group Company, and CARE Edge Ratings Limited. These ratings reflect the trust’s outstanding creditworthiness and financial stability, consolidating trust among investors.
A Multifaceted Team’s Gratitude
Mr. N Amrutesh Reddy, the Managing Director of NDR InvIT Trust, is elated as this listing is not only a significant achievement for the company but also represents a vote of confidence for India’s infrastructure and InvIT sector. He expresses gratitude for the trust that investors have shown and emphasizes their commitment to generating shared prosperity and contributing to a sustainable future.
The Team Behind the Listing
ICICI Securities Limited played a pivotal role as the Book Running Lead Manager to the issue, ensuring the smooth and successful listing of NDR InvIT Trust’s privately placed units. The Registrar and Unit Transfer Agent, entrusted with the vital task of maintaining accurate records and transferring units, are Link Intime India Private Limited.
The NDR InvIT Trust’s successful listing has demonstrated the strong footing of India’s InvIT sector and the promising potential of the warehousing and logistics industry. With a reliable sponsor, experienced management, a diverse portfolio, and high creditworthiness, the trust is well-positioned for future growth and success.
