The International Finance Corporation (IFC) on Monday announced an equity investment of Rs 225 crore (around USD 23 million) in NDR Smart Spaces.
The investment will support NDR Smart Spaces in developing a pipeline of around 20 million square feet of Grade A warehousing infrastructure across 14 cities, including around 8 million square feet under construction.
NDR Smart Spaces Pvt Ltd is a newly established platform by the NDR group, which is the sponsor of NDR InvIT Trust, dedicated to developing Grade A warehousing and logistics infrastructure across several states, including Maharashtra, Tamil Nadu, and Uttar Pradesh.
The portfolio will comprise both dry warehousing and cold storage facilities, with a strategic focus on tier-2/3 cities that have historically been underserved by modern logistics infrastructure, and where quality formal employment in the organised sector remains scarce, the company said.
“IFC’s investment in NDR Smart Spaces will support Grade A warehouses in Tie
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