50689
NDR Smart Spaces Private Limited
Jan 5, 2026
India
South Asia
Mar 2, 2026
B - Limited
Pending Signing
Apr 24, 2026
Regional Industry - MAS Asia & Pac
other
Approved : Apr 23, 2026
Commercial Property - Industrial [Project only]
The proposed IFC investment in NDR Smart Spaces Private Limited (NDR Smart or Company) is by means of subscription to the Compulsory Convertible Debentures (CCDs) or Preference Shares issued by the Company of up to US$ 25 million (INR equivalent) and debt investment of up to US$ 25 million (INR equivalent). The proceeds will be used by the Company to acquire and develop green warehouses in India.
NDR Smart is a newly incorporated subsidiary of NDR Warehousing Private Limited (NDRWPL). Currently NDRWPL is undergoing a demerger process to transfer its warehouse development business to NDR Smart, for better governance, simplified administration and management. NDRWPL is one of the leading warehousing developers in India having developed and leased approx. 20 Mn sq. ft as of December 2025. NDRWPL is also the sponsor of NDR InvIT Trust (a listed regulated AAA rated entity) that has a right of first offer with the Company (“ROFO”) to purchase completed leased warehouse assets.
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Local Access of Project Documentation
Project data available on IFC disclosures page.