TVS Infrastructure Trust Secures ₹830 Crore via NCD Issuance

As per PTI report, TVS Infrastructure Trust has raised ₹830 crore under the first tranche of its ₹1,100 crore non-convertible debenture (NCD) programme, according to a statement issued by the Trust. The fundraise forms part of its approved borrowing plan for long-term funding. 

Nature of the Bonds 

The money was raised through bonds with a tenure of 20 years, with maturity scheduled for 2046. The issuance is among the longer-tenor debt transactions completed in the industrial and warehousing Infrastructure Investment Trust (InvIT) segment in India. 

Anchor Investor 

The bonds were anchored by the National Bank for Financing Infrastructure and Development (NaBFID). The participation of NaBFID aligns with its mandate to provide financing to infrastructure platforms with institutional governance structures. 

Pricing and Rating 

The bonds have been rated AAA by ICRA. They were issued at a coupon of 7.42%. The long tenure is intended to match the operating life and cash flow profile of the Trust’s industrial and logistics assets. 

Sponsor Background 

TVS Infrastructure Trust is sponsored by TVS Industrial & Logistics Parks (TVS ILP). The sponsor platform is backed by more than 150 investors, including domestic and global institutions, family offices and development finance entities. 

Use of Funds 

The Trust said proceeds from the first tranche will be used to lower its borrowing costs and support portfolio expansion. It is targeting an increase in its asset base to around 20 million square feet over time, with a focus on assets located in Tier 2 and Tier 3 cities. 

Asset Profile 

Planned additions are expected to include industrial and logistics facilities leased to tenants from manufacturing, e-commerce, FMCG and FMCD sectors. The assets are typically backed by long-term lease arrangements. 

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TVS Infrastructure Trust Share Price Performance  

As of January 20, 2026, at 11:02 am, TVS Infrastructure Trust share price was trading at ₹110.50. 

Conclusion 

With the completion of Tranche I, TVS Infrastructure Trust has raised a substantial portion of its planned NCD funding, leaving the balance to be raised at a later stage. 

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