India’s largest industrial and logistics infrastructure developer, owner and operator in terms of total network area, filed its Draft Red Herring Prospectus (DRHP) for this issue on Monday.The company has raised pre-IPO funds from investors including 360 ONE, The platform has a pan-India footprint of about 60 million sq ft, of which around 27 million sq ft is completed, with 46 assets spread across 10 cities. A key component of its portfolio is an These facilities are positioned to serve last-mile logistic ...

Financial Performance - ILPT's Normalized FFO attributable to common shareholders was $17385 thousand, or $026 per diluted share[15, 18] - Adjusted EBITDAre reached $841 million[15] - Same property NOI increased by 29% to $864 million compared to Q3 2024[15] - Same property Cash Basis NOI increased by 30% to $842 million compared to Q3 2024[15] - Interest expense decreased by $105 million, or 142%, compared to Q3 2024[15] Portfolio & Leasing Activities - ILPT executed approximately 836000 square feet of total leasing activity[10, 15] - Weighted average rental rates were 224% higher than prior rental rates for the same space[10, 15] - Renewal activity accounted for 70% of leasing activity[10] - Approximately 76% of annualized rental revenues are generated from investment grade tenants or their subsidiaries and Hawaii land leases[14, 15] - Portfolio occupancy stood at 941%[15, 45] Capital & Liquidity - ILPT declared a quarterly cash distribution to common shareholders of $005 per share[12, 15] - ILPT ended the quarter with $832 million of cash on hand[15] - Three properties totaling 867000 square feet are in various stages of disposition and are expected to sell for approximately $55 million[15]

Financial Performance - ILPT announced a quarterly distribution on its common shares of $005 per share[11] - Net loss attributable to common shareholders was $2131 million or $032 per diluted share[14] - Normalized FFO attributable to common shareholders was $1381 million or $021 per diluted share[14] - NOI increased by 15% to $8756 million and Cash Basis NOI increased by 21% to $8467 million compared to Q2 2024[14] Portfolio and Leasing Activities - Approximately 76% of annualized rental revenues are generated from investment grade tenants or their subsidiaries and Hawaii land leases[13][14] - Occupancy of the portfolio was 943%[14] - Executed 171000 square feet of new and renewal leases at rental rates 211% higher than prior rates with a weighted average lease term of 48 years[14] - Only 36% or 21 million square feet of leased space is set to expire in the next 12 months[14] Debt and Capital Structure - Refinanced $1235 billion of floating rate debt with $116 billion of fixed rate debt due July 2030 using $75 million of cash on hand[14] - Ended the quarter with $586 million of cash on hand excluding restricted cash[14] - Net debt to total gross assets was 699%[30]