NDR InvIT Acquires Rs 706.1 Cr Industrial Portfolio

23 Jan 2025 CW Team

NDR InvIT Trust announced that it has acquired a Grade-A industrial and warehousing portfolio worth approximately USD 85 million. The acquisition adds 2.01 million square feet (MSF) of operational, high-quality assets to NDR InvIT’s expanding portfolio, spanning Surat, Hyderabad, Bengaluru, and Pune.

The portfolio is fully operational with 100% occupancy, featuring marquee tenants and a weighted average lease expiry (WALE) of 15.4 years. The transaction is expected to deliver strong returns.

“The acquisition marks a significant step in strengthening our portfolio with high-quality, diversified assets that align with India’s infrastructure growth ambitions,” said Amrutesh Reddy, Director, NDR InvIT Managers. “As the country focuses on modernizing supply chains under initiatives like the Gati Shakti National Master Plan and the 'Make in India' campaign, these strategic investments reaffirm our commitment to advancing the warehousing and industrial sectors while delivering long-term stable returns to our stakeholders.”

The deal is being financed with a cash consideration of Rs 5.65 billion and a preferential issue of Rs 1.41 billion. This will involve the allocation of 11.01 million units at Rs 128 per unit, which represents a 21.6% premium over the trade price.

NDR InvIT expects the acquisition to increase its gross asset value (GAV) by 15.22%, and the operating area by 12% to 19 million square feet. The deal also strengthens its geographic presence in Surat and Hyderabad while further expanding its foothold in Bengaluru and Pune.

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