TVS ILP Lists India’s Largest Warehousing InvIT on NSE, Raises Over ₹1,300 Cr

(Left to Right) Ms. Aditi Kumar, Joint Managing Director, TVS Industrial & Logistics Parks Private Limited; Mr. Ravi Swaminathan, Founder & Vice Chairman, TVS Industrial & Logistics Parks Private Limited; Mr. Ashish Kumar Chauhan, Managing Director & CEO, NSE; Mr. R. Dinesh, Chairman, TVS Supply Chain Solutions Limited

New Delhi, July 8, 2025: TVS Industrial & Logistics Parks (TVS ILP) listed its Infrastructure Investment Trust (InvIT) on the NSE on Tuesday.

“Today is a momentous day for our Infrastructure Investment Trust, not only because it marks our listing but also marks 20 years since the inception of the partnership between TVS SCS and the Ravi Swaminathan Family, when we incorporated TVS ILP on July 8, 2005. Together, we were driven by a steadfast belief in India’s logistics sector, and we visualised a bold future in India’s infrastructure industry.”

“What began as a bold vision has today positioned TVS ILP as India’s first corporate developer in Grade A warehousing. Over the last two decades, TVS ILP has consistently redefined the standards of warehousing and industrial infrastructure in India. Our journey has been driven by deep sectoral expertise and an unwavering focus on quality and execution.”

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.”

This strategic initiative is backed by marquee global and domestic investors including the International Finance Corporation (IFC), a member of the World Bank Group and L&T. IFC has invested INR 348 crore as the cornerstone investor in the initial listing of TVS InvIT. This is IFC’s first equity investment in a warehousing InvIT in India.

Vikram Kumar, Regional Industry Director, Infrastructure and Natural Resources in Asia and The Pacific, IFC, said, “India’s warehousing sector is evolving rapidly, transitioning from fragmented, unorganised facilities to large-scale, sustainable logistics parks built to global standards.”

He added, “We are proud to partner with TVS InvIT in this transformation. Our investment supports not only the scaling of energy-efficient warehousing solutions but also the establishment of the company’s Infrastructure Investment Trust (InvIT)—a structure with enormous potential to deepen India’s capital markets. We hope the partnership will help crowd in long-term institutional capital, create new benchmarks in operational excellence and drive sustainability across India’s logistics ecosystem.”

R Dinesh, Chairman, TVS Supply Chain Solutions Limited, said, “The listing of the TVS Infrastructure Trust is not only a proud milestone for TVS ILP but also a defining moment for India’s warehouse infrastructure ecosystem. Our partnership with the Ravi Swaminathan family, forged two decades ago, was built on shared values, long-term commitment and a common vision for India’s logistics future.”

He added, “I am confident that this listing will serve as a catalyst for further innovation and capacity building across the sector with TVS ILP continuing to set benchmarks as a leading corporate developer of industrial and logistics infrastructure.”

TVS Infrastructure Investment Trust issued units worth around INR 2,000 crore of which INR 1,300 crore worth of units were subscribed by marquee global and domestic investors. The offering comprised a fresh issue of INR 1,050 crore and an offer for sale of INR 250 crore by an existing unitholder.

Imad N Fakhoury, Regional Director, South Asia, IFC, “Warehousing is central to India’s manufacturing, agribusiness and logistics sectors. IFC’s investment will help bring high-quality warehousing solutions to tier-2 cities and underserved regions like eastern India, bridging infrastructure gaps and driving more inclusive, regionally balanced growth.”

He added, “This partnership with TVS demonstrates how strategic private sector collaboration through platform approaches like InvITs can strengthen India’s capital markets, scale up private capital mobilisation, advance sustainability and create jobs to support long-term economic development.”

TVS ILP is part of the TVS Mobility Group and a joint venture between TVS Supply Chain Solutions and Ravi Swaminathan & Family. The InvIT has been seeded with approximately 11 mn sq ft (MSF) of warehousing and industrial assets valued at around INR 3,000 crore drawn from TVS ILP’s broader 20 MSF platform. The portfolio spans strategic logistics markets, including Chennai, Pune, Kolkata, Hosur, Kochi and the Northeast, covering over 65 per cent of consumption hubs.

The TVS ILP InvIT offers a well-diversified tenant base of over 30 marquee clients from 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.