TVS Industrial & Logistics Parks lists ₹1,300 cr worth InvIT on NSE

TVS Industrial & Logistics Parks on Tuesday announced the listing of its InvIT TVS Infrastructure Trust on the National Stock Exchange, raising over Rs 1,300 crore.

According to the company, TVS Infrastructure Investment Trust issued 2,000 crore units, out of which units worth Rs 1,300 crore were subscribed by marquee global and domestic investors.

The offering comprised a fresh issue of Rs 1,050 crore and an offer-for-sale of Rs 250 crore by an existing unitholder, it said.

The Infrastructure Investment Trust (InvIT) offers a well-diversified tenant base of over 30 clients from various sectors, such as e-commerce, automotive, FMCG, electronics, pharmaceuticals, and manufacturing.

Less than 50 per cent of its rental income comes from its top 10 tenants, ensuring stability and risk diversification, the company said.

The InvIT has been seeded with approximately 11 million sq ft of warehousing and industrial assets valued at around Rs 3,000 crore, drawn from TVS ILP's broader 20 million sq ft platform, TVS Industrial & Logistics Parks (TVS ILP) said.

TVS ILP is part of the TVS Mobility Group and a joint venture between TVS Supply Chain Solutions (TVS SCS) and Ravi Swaminathan & Family.

The portfolio spans strategic logistics markets, including Chennai, Pune, Kolkata, Hosur, Kochi, and the northeast, covering over 65 per cent of India's consumption hubs, as per the company.

"Being India's first corporate developer-led InvIT in warehousing is a powerful testament to what can be achieved when long-term vision meets strong execution. The TVS Infrastructure Trust enables us to unlock value, attract global capital, and most importantly, accelerate infrastructure development in India," said TVS Industrial & Logistics Parks founder and Vice Chairman Ravi Swaminathan.

This strategic initiative is backed by global and domestic investors, including the International Finance Corporation (IFC), a member of the World Bank Group and L&T, the company said, adding that IFC has invested Rs 348 crore (USD 41 million) as the cornerstone investor in the initial listing of TVS InvIT.

This is IFC's first equity investment in a warehousing InvIT in India, TVS ILP said.