NDR InvIT Acquires Warehousing Assets in Kochi, Coimbatore for ₹260 Crore

Bengaluru: NDR InvIT Trust Expands Its Portfolio with Major Acquisition

NDR InvIT Trust has made a significant move in the Indian infrastructure financing landscape by acquiring two operational warehousing assets in Kochi and Coimbatore for approximately ₹260 crore. This acquisition adds to the company's buyout momentum this year, further strengthening its pan-India footprint.

The acquisitions were executed through a combination of cash consideration and unit swap, as per the Trust's statement on Friday. The two assets acquired have a total leasable area of about 0.79 million sq ft, bringing NDR InvIT's total operating area to 22.96 million sq ft across 18 cities.

NDR InvIT, which counts Bahrain-based alternative investment manager Investcorp as an investor, is India's first perpetual warehousing and industrial parks InvIT. This type of InvIT allows investors to pool money into a portfolio of warehousing and logistics assets that are managed and operated to generate consistent, long-term rental income.

| Acquisition | Leasable Area (sq ft) | Location | Acquisition Price (₹ crore) | | --- | --- | --- | --- | | Kochi | 0.39 million | Kochi | 135 crore | | Coimbatore | 0.40 million | Coimbatore | 125 crore |

The latest acquisition has significant implications for NDR InvIT's growth prospects. According to Amrutesh Reddy, managing director of NDR Warehousing Pvt. Ltd, the company sees "significant opportunities to scale our platform across south India and other under-penetrated hubs, backed by strong occupier demand and improving infrastructure."

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, while penetration in renewables, airports, ports, and wind remains minimal, leaving significant headroom for growth, according to property advisory Knight Frank India.

NDR InvIT has been on a growth curve, with notable milestones in recent months. 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.