Private Equity

PE Fund Investments

NDR Warehousing raises Rs.500-Cr more from Investcorp: Report

Economic Times  

Chennai-headquartered logistics infrastructure company NDR Warehousing has raised INR 500 crore from Bahrain-based investor Investcorp ahead of its proposed infrastructure investment trust (InvIT). This is the second investment by Investcorp in NDR Warehousing, following a USD 55-million investment last year. The proposed InvIT would be the first-ever listing of its kind by a warehousing company. NDR Warehousing has filed a draft placement memorandum (DPM) with capital markets regulator Sebi to raise INR 1,165 crore through an InvIT. The offering consists of a fresh issue amounting to INR 843 crore by NDR InvIT Trust and an offer for sale worth INR 322 crore by the selling unitholders. NDR intends to use the funds to repay certain construction-related loans. NDR Warehousing would serve as the sponsor of the trust, while NDR Invit Managers Pvt Ltd would be the trust's investment manager and Axis Trustee Services Ltd the trustee. The lead manager to the issue is ICICI Securities.