NaBFID Invests Rs 745 Crore in NDR InvIT Bonds

Mumbai, Dec 31 (PTI) The National Bank for Financing Infrastructure and Development (NaBFID) has invested Rs 745 crore in long-term bonds issued by NDR InvIT, the company said on Tuesday.

NDR InvIT is an Infrastructure Investment Trust managed by NDR InvIT Managers and sponsored by NDR Warehousing Private Limited.

These 15-year bonds, rated AAA/Stable by India Ratings (FITCH) and CARE, underscore NDR InvIT's key role in advancing India's warehousing and industrial parks sector, NDR said.

The funds will accelerate NDR InvIT's strategic growth plans, it added.

With demand for robust logistics infrastructure soaring due to rapid manufacturing growth and the exponential rise of e-commerce, this investment positions NDR InvIT as a driving force in bridging critical infrastructure gaps, it noted.

The investment comes at a time when India's logistics and warehousing sectors are poised for exponential growth, it said.

According to a recent report by Motilal Oswal, the domestic logistics market, valued at Rs 9 trillion in FY23, is projected to grow to Rs13.4 trillion by FY28, registering a CAGR of 8-9 per cent, NDR said.

As per IBEF, the Indian warehousing market is predicted to reach USD 34.99 billion (Rs 2,872.10 billion) by 2027, expanding at a CAGR of 15.64 per cent from 2022 to 2027, it added.

"This partnership with NaBFID represents a significant leap in our journey toward becoming a leading enabler of India's industrial growth," said Krishnan Iyer, CEO, NDR InvIT Managers.

The funds raised will enable us to capitalise on market opportunities, strengthen our portfolio, and deliver high-quality infrastructure that drives economic growth, he added.

"The issuance of this long-term bond demonstrates our ability to access sustained capital at competitive terms, a key differentiator in the infrastructure investment space," said NDR InvIT Managers CFO Sandeep Jain.

The first 'perpetual warehousing and industrial parks' InvIT to be listed on the NSE, the Trust currently has 16.99 msf assets under management, across 13 cities, and 33 industrial parks, with over 50 warehouses.