Privately listed warehousing and industrial parks trust NDR InvIT is set to raise up to $78 million (Rs 725 crore) through a preferential issue, the company said in a statement.
The proceeds from the issue are proposed to be used for asset acquisition and capital expenditure requirements, in line with the InvIT’s growth strategy.
The company has part funded its acquisitions from the bonds issuance of Rs 410 crore anchored by International Finance Corporation (IFC) and India Infrastructure Finance Company Limited (IIFCL).
The company has signed back-to-back deals to acquire three assets. In March, it announced the acquisition of a Grade-A, fully operational warehousing asset in Pune, Maharashtra, for approximately ₹203 crore.
The asset spans 0.7 million sqft of leasable area and is located in the Chakan–Talegaon industrial belt.
On Friday, it said that it has acquired two Grade-A, fully operational warehousing assets in Kochi and Coimbatore for a total consideration of approximately ₹260 crore.
The portfolio comprises 0.79 million sq ft of leasable area across strategically located assets in two rapidly growing warehousing hubs in South India.
“This preferential issue, along with the proposed acquisitions, marks another important step in our growth journey. The capital raise enhances our ability to pursue high-quality opportunities while maintaining a disciplined approach to capital allocation,” said Sandeep Jain, chief financial officer, NDR InvIT.
NDR InvIT has an AUM of 22.17 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 in sectors such as third-party logistics, e-commerce, technology, engineering, automobiles, whitegoods, retail, and FMCG.
