Investcorp sells 6.8% stake in NDR InvIT via ₹305 crore block trade

Investcorp has divested a 6.8 per cent stake in NDR InvIT through a Rs 305 crore block deal, the largest secondary stake sale in the warehousing InvIT sector

Investcorp, a global alternative investments manager, has divested a 6.8 per cent stake in NDR infrastructure investment trust (InvIT) via a block trade deal of Rs 305 crore. 

 

N Amrutesh Reddy, director, NDR InvIT, said, “We note the development and are happy to see Investcorp generate healthy returns on their investment in NDR InvIT. This underscores the trust placed by global investors in the platform and the strong fundamentals of the InvIT.”

 

Post-transaction, Investcorp continues to retain a 14 per cent stake in the InvIT. Ambit Investment Banking was the advisor for the transaction.

 

The InvIT is sponsored by NDR Warehousing Private Limited, and the sponsor group held a 40.4 per cent stake in the InvIT as of the first quarter of the financial year 2026 (Q1 FY26).

 

 

This is the largest secondary stake sale in the warehousing InvIT sector. NDR InvIT Trust is India’s first perpetual warehousing and industrial parks InvIT listed on the National Stock Exchange (NSE). Currently, there are two listed warehousing InvITs in India – NDR InvIT Trust and TVS Infrastructure Trust.

 

NDR InvIT operates 60 warehouses and 37 industrial parks across 15 Indian cities. The InvIT’s assets under management (AUM) span 19 million square feet (msf), with 6 msf of ongoing projects. The InvIT’s AUM includes a mix of built-to-suit, under-construction, and ready facilities across key consumption and production markets. About 98 per cent of the InvIT’s assets were occupied as of Q1 FY26. 

 

The InvIT’s top 10 clients account for approximately 33 per cent of the leased area. These tenants are spread across diversified industries, including third-party logistics service providers, e-commerce, information technology and technology, engineering, automobiles and auto ancillaries, white goods manufacturers, retail and fast-moving consumer goods.

 

The InvIT was listed on NSE with an initial public offering (IPO) of Rs 880 crore last year. In 2025, the InvIT issued non-convertible debentures (NCDs) of Rs 630 crore and Rs 745 crore to the International Finance Corporation (IFC) and the National Bank for Financing Infrastructure and Development (NaBFID), respectively.

 

The InvIT’s shares listed on the NSE closed at Rs 119 per share on Wednesday (24 September).