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

IFC invests ₹348 crore ($41 million)—marking its first equity investment in a warehousing InvIT in India.  

Mumbai, July 8, 2025: TVS Industrial & Logistics Parks (TVS ILP), India’s pioneering developer of Grade A warehousing and industrial infrastructure, marked a major milestone today with the successful listing of its Infrastructure Investment Trust (InvIT) — TVS Infrastructure Trust — on the National Stock Exchange (NSE).

Speaking at the listing ceremony, Ravi Swaminathan, Founder & Vice Chairman, TVS Industrial & Logistics Parks Private Limited said: “Today is a momentous day for our Infrastructure Investment Trust, not only because it marks our listing. It also marks 20 years since the inception of the partnership between TVS SCS and Ravi Swaminathan Family, when we incorporated TVS ILP on 8th July 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 ₹348 crore ($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.

Talking about the investment, Vikram Kumar, IFC’s Regional Industry Director for Infrastructure and Natural Resources in Asia and the Pacific said: “India’s warehousing sector is evolving rapidly, transitioning from fragmented, unorganized facilities to large-scale, sustainable logistics parks built to global standards. 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 added: “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. At TVS SCS, we have always believed in the transformative power of integrated infrastructure to enable efficient and scalable supply chains. 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.

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 2000 crores out of which 1300 crore worth units were subscribed by marquee global and domestic investors. The offering comprised a fresh issue of ₹1,050 crore and an offer for sale of ₹250 crore by an existing unitholder.

Imad N Fakhoury, IFC’s Regional Director for South Asia said: “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 under-served regions like eastern India, bridging infrastructure gaps and driving more inclusive, regionally balanced growth. 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 mobilization, 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 (TVS SCS) and Ravi Swaminathan & Family. The InvIT has been seeded with approximately 11 million sq. ft of warehousing and industrial assets valued at around ₹3,000 crore, drawn from TVS ILP’s broader 20 million sq. ft platform. The portfolio spans strategic logistics markets including Chennai, Pune, Kolkata, Hosur, Kochi, and the Northeast, covering over 65% of India’s 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% of its rental income comes from its top 10 tenants, ensuring stability and risk diversification.