TVS Industrial & Logistics Parks lists InvIT on NSE
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.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Bank Owned Properties For Sale In Binh Nham (Prices May Surprise You)
Foreclosed Homes | Search ads
Search Now
Undo
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.
Live Events
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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
16 minutes ago
- Deccan Herald
Auto fares go higher in Bengaluru, drivers refuse to calibrate meters
The base fare has increased from Rs 30 for the first two kilometres to Rs 36, with the per-kilometre rate rising from Rs 16 to Rs 18.
Time of India
an hour ago
- Time of India
Deadline for property tax settlement scheme extended to Aug 15
Ludhiana: The local bodies department has extended the deadline for its one-time property tax settlement scheme to August 15, offering relief to defaulters who missed the original cut-off date of July 31. Tired of too many ads? go ad free now The extension comes after a surge in last-minute payments at civic body's suvidha centres across Ludhiana. Under the scheme, launched on May 15, property owners with pending dues from 2013-14 onwards were given a chance to clear their backlog without paying any interest or penalty. Officials said that initial response was slow, but picked up momentum in July. So far, the department has collected Rs 15 crore under the scheme, contributing to Rs 40 crore property tax revenue for the current fiscal year. As per the original policy, dues paid between August 1 and October 31 would attract a 50% waiver on interest and penalties. Now that the deadline has been extended, full waiver benefits will continue till August 15, giving taxpayers a few more days to settle their accounts. MC superintendent Vivek Verma confirmed the extension and urged residents to take advantage of the scheme. "This is a golden opportunity for defaulters to clear their dues without additional financial burden," he said. While the extension benefits taxpayers, it has sparked concern among MC employees, who have been working overtime, including weekends and public holidays, to manage the rush. With Raksha Bandhan falling on Saturday, staff members are considering requesting the MC commissioner to keep suvidha centres closed on holidays. One employee noted that the pressure would continue even after the scheme ended, as the civic body would shift focus to collecting current dues. Taxpayers are eligible for a 10% rebate on current dues until September 30, which means that offices may remain open on weekends for months to come. The department has appealed to residents to cooperate and complete their payments early to avoid last-minute congestion. MSID:: 123043253 413 |
Time of India
an hour ago
- Time of India
Street vendor push: Loan hike, credit cards okayed
NEW DELHI: Govt has approved higher subsidised loans for street vendors under the second phase of PM SVANidhi scheme and expanded its coverage by bringing around 50 lakh more beneficiaries under its ambit. Tired of too many ads? go ad free now TOI has learnt that the proposal to enable around 11 beneficiaries who have paid the first two tranches of subsidised loans to get UPI-linked credit cards with a limit of Rs 30,000 was also approved on Thursday. Sources said that under the revamped scheme, the beneficiaries will get subsidised loans of Rs 15,000 and Rs 25,000 in the first two terms, up from the earlier disbursement of Rs 10,000 and Rs 20,000 respectively. The amount for the third-term loan remains unchanged at Rs 50,000. Beneficiaries availing loans are eligible to get an interest subsidy of 7%. Officials said the credit card facility will help street vendors who by now have a better credit rating to have access to more rolling capital for their business and this will create more financial confidence in them. The norms of repayment will be laid down by the banks. As per the housing and urban affairs ministry, so far a little over 68 lakh street vendors have availed the first-term loan of Rs 10,000 and nearly 38.4 lakh have repaid.
