Investcorp has made a follow-on investment of INR 500 crore in NDR Warehousing, consolidating its commitment to the burgeoning warehousing sector in India.
Information on the Target
NDR Warehousing ("NDR") is recognized as one of India’s largest warehouse development and operating platforms. The company boasts a diverse asset portfolio that spans across ten major cities in India, including Chennai, Mumbai, the National Capital Region (NCR), Bangalore, Pune, Coimbatore, and Kolkata. With operational assets exceeding 14 million square feet and an impressive aggregate occupancy rate of over 95%, NDR is positioned as a leader in the warehousing sector. Furthermore, the company has an additional 5 million square feet currently under construction or proposed development, underscoring its ambitious growth plans.
NDR is also evaluating a potential listing of part of its warehousing portfolio as an Infrastructure Investment Trust (InvIT), which would provide an innovative avenue for attracting institutional investment and liquidity into its operations.
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Industry Overview in India
The warehousing sector in India has been experiencing significant growth, driven by a surge in e-commerce, the need for organized logistics, and the rise of smaller firms seeking proper distribution channels.
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Investcorp
invested in
NDR Warehousing
in 2023
in a Growth Equity & Expansion Capital deal
Disclosed details
Transaction Size: $61M
Equity Value: $55M