NDR InvIT Trust Issues Second Corrigendum to Postal Ballot Notice for Preferential Issue of Units

3 min read     Updated on 10 May 2026, 05:04 AM
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NDR InvIT Trust, through its Investment Manager NDR InvIT Managers Private Limited, issued a Second Corrigendum dated May 09, 2026, to its Postal Ballot Notice, revising the list of 64 Non-Sponsor proposed allottees for cash consideration totalling up to 5,35,25,000 units and updating beneficial ownership disclosures. The preferential issue seeks to allot up to 6,24,01,829 units at INR 135.80 per unit, with an additional swap consideration component of up to 88,76,829 units for target entity shareholders. Post-issue, total units outstanding are projected to rise to 45,84,14,043, with public holding increasing to 65.10%.

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NDR InvIT Trust , through its Investment Manager NDR InvIT Managers Private Limited, has issued a Second Corrigendum ("Corrigendum II") dated May 09, 2026, to its Postal Ballot Notice dated April 17, 2026, read with the Revised Postal Ballot Notice dated April 20, 2026, and Corrigendum I dated May 05, 2026. This latest corrigendum introduces further amendments to the list of proposed allottees for cash consideration and related disclosures, and shall form an integral part of the Postal Ballot Notice from the date of issuance. All other contents of the Postal Ballot Notice, as previously modified, remain unchanged.

Background: Preferential Issue of Units

The Postal Ballot Notice was issued to unitholders of NDR InvIT Trust in accordance with Regulation 22(2)(c) of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 ("SEBI InvIT Regulations"), read with Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/102 dated July 11, 2025. The notice seeks unitholder approval for the issuance of up to 6,24,01,829 units of the Trust at an issue price of INR 135.80 per unit on a preferential basis.

Key Amendments Introduced by Corrigendum II

Corrigendum II specifically revises the list of proposed allottees for cash consideration as disclosed under Corrigendum I, substituting the earlier list in its entirety. The total maximum units to be allotted for cash consideration across all 64 Non-Sponsor allottees remains at up to 5,35,25,000 units. The following table highlights select major allottees by maximum unit allocation:

Sr. No. Name of Proposed Allottee Maximum Units (Up to)
18. Larsen & Toubro Limited 1,10,25,000
19. LTM Limited 55,00,000
36. Infrastructure and Real Assets Fund 73,50,000
1. NEO Real Asset Yield Fund 18,50,000
62. Kenai Advisors LLP 18,25,000
42. Everest Food Products Private Limited 18,25,000
21. Rudira Aqua Limited 14,50,000
43. Kunjal Lalitkumar Patel 14,50,000
2. Munjal Mavjibhai Lakhani 11,25,000
47. Vimal Labhubhai Lakhani 11,00,000
Total (All 64 Allottees) 5,35,25,000

Swap Consideration: Target Entities

The swap consideration component of the preferential issue, as established under Corrigendum I, remains at up to 88,76,829 units, to be issued to the shareholders of the following target entities:

Target Entity Maximum Units (Up to)
NDR Unique Space Private Limited 6,299,015
NDR Bigbox Private Limited 119,224
NDR Space Private Limited 2,458,590

Revised Unitholding Pattern

The unitholding pattern of the Trust, based on the latest BENPOS date of April 10, 2026, and assuming allotment to all allottees up to the maximum number of units, is presented below:

Category Before Preferential Issue (Units) Before (%) After Preferential Issue (Units) After (%)
Sponsor & Sponsor Group (A) 15,99,85,532 40.40 15,99,85,532 34.90
Public Holding – Institutions (B1) 3,40,55,154 8.60 4,39,80,154 9.59
Public Holding – Non-Institutions (B2) 20,19,71,528 51.00 25,44,48,357 55.51
Total Public Holding (B) 23,60,26,682 59.60 29,84,28,511 65.10
Total Units Outstanding (C = A+B) 39,60,12,214 100.00 45,84,14,043 100.00

Beneficial Ownership Disclosures

Corrigendum II also amends Exhibit-B1, providing updated details of the ultimate beneficial owners and/or natural persons who ultimately control the proposed allottees. Notable beneficial ownership disclosures include Cyrus Soli Poonawalla for Serum Institute of India Private Limited, Aamir Khan for Aamir Khan Films LLP, and Ranbir Rishi Kapoor and Neetu Rishi Kapoor for Krishnaraj Ventures LLP, among others. Listed companies such as Larsen & Toubro Limited and LTM Limited are noted as "Not Applicable being Listed Company."

The corrigendum was signed by Neha Chovatia, Company Secretary and Compliance Officer of NDR InvIT Managers Private Limited, and is available on the Trust's website at https://www.ndrinvit.com/ .

Historical Stock Returns for NDR InvIT Trust

1 Day5 Days1 Month6 Months1 Year5 Years
0.0%0.0%0.0%+13.81%+20.62%+30.77%

How might Larsen & Toubro's significant stake acquisition in NDR InvIT Trust influence the trust's future asset acquisition strategy and pipeline in the warehousing and logistics sector?

Given that the sponsor group's holding will dilute from 40.40% to 34.90% post-issuance, what are the implications for governance and control of NDR InvIT Trust going forward?

With high-profile beneficial owners like Cyrus Poonawalla and Bollywood celebrities participating, could this signal a broader trend of celebrity and ultra-high-net-worth individual interest in InvIT investments in India?

NDR InvIT Inaugurates 1 Lakh Sq Ft Warehousing Facility at Verna Industrial Estate, Goa

2 min read     Updated on 07 May 2026, 10:19 AM
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NDR InvIT has inaugurated a 1 lakh sq ft (0.1 million sq ft) Grade A warehousing facility at Verna Industrial Estate, South Goa, leased to a leading manufacturing client. The development expands NDR's total portfolio in Goa to approximately 1.3 million sq ft, making it the largest developer in the state. NDR InvIT Trust, India's first perpetual warehousing and industrial parks InvIT, currently manages an AUM of 22.96 million square feet across over 75 warehouses and 42 industrial parks in 18 cities, serving more than 100 tenants.

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India's first perpetual warehousing and industrial parks InvIT listed on the National Stock Exchange, ndr invit trust , has inaugurated a 1 lakh sq ft (0.1 million sq ft) warehousing facility at Verna Industrial Estate, South Goa. The development marks a significant milestone in the company's regional expansion, taking its total portfolio in the state to approximately 1.3 million sq ft and establishing NDR as the largest developer in Goa.

Key Details of the Verna Facility

The newly inaugurated facility is fully operational and has been leased to a leading manufacturing client, reflecting strong occupier interest in high-quality, compliant warehousing solutions in the region. The following table summarises the key parameters of the development:

Parameter: Details
Facility Size: 1 lakh sq ft (0.1 million sq ft)
Location: Verna Industrial Estate, South Goa
Facility Grade: Grade A
Occupier: Leading manufacturing client
Total Goa Portfolio: Approximately 1.3 million sq ft
Inauguration Date: 6th May 2026

Strategically located in Verna, one of Goa's key industrial hubs, the facility benefits from strong connectivity to major highways, ports, and industrial clusters. It is designed to cater to manufacturing and industrial occupiers, incorporating efficient layouts, scalability, and compliance with modern warehousing standards.

Leadership Commentary

Speaking on the occasion, Amrutesh Reddy, Director, NDR InvIT Managers Private Limited, said: "Goa is fast evolving as a credible industrial and manufacturing hub, and this development marks an important step in our strategy to expand into high-growth, underpenetrated markets. Our Verna facility is built to global standards and tailored to the needs of modern manufacturing occupiers. With this inauguration, we are not only strengthening our presence in the state but also reinforcing our commitment to building high-quality infrastructure that supports India's manufacturing-led growth."

About NDR InvIT Trust

NDR InvIT Trust is India's first perpetual warehousing and industrial parks InvIT. The Trust's portfolio and key metrics are outlined below:

Parameter: Details
AUM: 22.96 million square feet
Number of Warehouses: Over 75
Industrial Parks: 42
Cities Covered: 18
Number of Tenants: More than 100

The Trust's tenant base spans sectors including third-party logistics, e-commerce, technology, engineering, automobiles, white goods, retail, and FMCG. Through its platform, NDR InvIT Trust focuses on enabling sustainable economic and social growth through strategic infrastructure investments.

Historical Stock Returns for NDR InvIT Trust

1 Day5 Days1 Month6 Months1 Year5 Years
0.0%0.0%0.0%+13.81%+20.62%+30.77%

Will NDR InvIT Trust pursue additional acquisitions or greenfield developments in Goa to further consolidate its position as the largest developer in the state?

How might the growing industrial activity in Goa influence NDR InvIT Trust's distribution yields and unit price performance on the NSE in the near term?

Which other underpenetrated Tier-2 or coastal markets is NDR InvIT Trust likely to target next as part of its regional expansion strategy?

More News on NDR InvIT Trust

1 Year Returns:+20.62%