TVS Industrial & Logistics Parks (TVS ILP) has successfully listed the country’s largest warehousing Infrastructure Investment Trust (InvIT) — TVS Infrastructure Trust — on the National Stock Exchange, raising over ₹1,300 crore from marquee global and domestic investors.
A Landmark in India’s Logistics Sector
Marking a major milestone in India’s logistics infrastructure landscape, TVS ILP has become the first corporate developer to list a warehousing InvIT on the NSE. The listing also commemorates the 20-year journey of TVS ILP, which began on July 8, 2005, as a partnership between TVS Supply Chain Solutions and the Ravi Swaminathan family.
“This is not just a listing; it is a celebration of two decades of vision and execution,” said Ravi Swaminathan, Founder & Vice Chairman of TVS ILP. “The InvIT structure enables us to unlock value, attract global capital, and accelerate infrastructure development across India.”
Backed by Global and Domestic Investors
The listing of TVS Infrastructure Trust attracted ₹1,300 crore from prominent institutional investors, including IFC (International Finance Corporation), which invested ₹348 crore ($41 million). This marks IFC’s first equity investment in a warehousing InvIT in India.
Vikram Kumar, IFC’s Regional Industry Director, remarked,
“India’s warehousing sector is transforming from fragmented units to large-scale, energy-efficient parks. Our partnership with TVS will help deepen capital markets and scale sustainable logistics infrastructure.”
L&T and other investors also participated in the listing, reflecting growing confidence in India’s warehousing and logistics asset class.
InvIT Details: ₹2,000 Crore Issue, ₹3,000 Crore Asset Base
The TVS InvIT raised a total of ₹2,000 crore, comprising a fresh issue of ₹1,050 crore and an offer-for-sale worth ₹250 crore. The InvIT has been seeded with approximately 11 million sq. ft of assets valued at around ₹3,000 crore, drawn from TVS ILP’s 20 million sq. ft portfolio.
The portfolio spans strategic logistics hubs including Chennai, Pune, Kolkata, Hosur, Kochi, and the Northeast, covering over 65% of India’s consumption markets.
A Diversified and Resilient Tenant Base
The TVS ILP InvIT serves over 30 marquee tenants across sectors such as e-commerce, automotive, FMCG, electronics, pharma, and manufacturing. Notably, less than 50% of rental income is derived from the top 10 tenants, offering strong risk diversification and income stability.
R Dinesh, Chairman of TVS Supply Chain Solutions, stated,
“This listing is a proud milestone and a catalyst for innovation and capacity building across India’s warehouse infrastructure ecosystem.”
Driving Inclusive Growth Through Infrastructure
Imad N Fakhoury, IFC’s Regional Director for South Asia, emphasized the broader impact of the investment:
“Our partnership with TVS will help extend quality warehousing infrastructure to Tier-2 cities and underserved regions like eastern India. This aligns with our goal of inclusive, regionally balanced development.”
Setting New Benchmarks in Warehousing
As India’s logistics sector modernizes, TVS ILP is leading the shift toward Grade A, sustainable warehousing solutions. The InvIT structure not only enables long-term capital infusion but also helps deepen India’s capital markets and expand institutional investor participation in infrastructure development.
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