TVS Infrastructure Trust raises ₹830 cr under ₹1,100-cr NCD programme

TVS Infrastructure Trust, an Infrastructure Investment Trust (InvIT) sponsored by TVS Industrial & Logistics Parks (TVS ILP), on Monday said that it has raised Rs 830 crore under tranche-1 of its Rs 1,100 crore Non-Convertible Debenture (NCD) programme.

The company, in a statement, said the funds were raised through a 20-year, long-tenor bond issuance, anchored by the National Bank for Financing Infrastructure and Development (NaBFID).

"This long-tenor bond issuance, extending up to the year 2046, is among the first of its kind in India's industrial infrastructure space," Ravi Swaminathan, Founder and Vice Chairman, TVS ILP, said.

Samuel Joseph Jebaraj, Deputy Managing Director Lending & Project Finance, NaBFID, said, "This investment is aligned with NaBFID's mandate to support institutionally governed infrastructure platforms that contribute meaningfully to India's sustainable economic development."  The bonds are rated AAA by ICRA.

TVS ILP is backed by a broad, diversified shareholder base of over 150 investors, including leading global and domestic institutions, family offices, and the International Finance Corporation (IFC).