Investcorp completes Rs 500 Cr follow-on investment in NDR

Mid-market private equity (PE) player Investcorp made a follow-on investment of Rs 500 crore ($60.8 million approx) in NDR Warehousing Earlier, in February 2022, the firm led a $55 million investment round in the logistics infrastructure company.

Ritesh Vohra, Partner and Head of Real Estate at Investcorp India, said the company's performance was robust.

“Our second investment with NDR within a span of eighteen months speaks about Investcorp’s conviction on the warehousing sector in India," he said, adding, "We anticipate strong tailwinds and a long runway ahead for the sector and with an InvIT listing under evaluation, we expect NDR will be well positioned to capitalize on these market dynamics."

Chennai-based NDR’s portfolio comprises 18 logistics parks spread across ten cities including Mumbai, National Capital Region (NCR), Bengaluru, Coimbatore, and Kolkata. 

“Warehousing remains a high conviction investment theme for Investcorp globally, and we are pleased to double down on further development of our partnership with NDR as we work towards creating a well-diversified warehousing platform in India,” added Niraj Sirsalewal, Director, Real Estate at Investcorp India.

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Investcorp has so far deployed over $350 million across the warehousing, residential and education-related sectors with a focus on social infrastructure.

In January this year, the Bahrain-based investment firm led a Series D round of $40 million (Rs 320 crore) in the direct-to-consumer (D2C) brand Wakefit.co.

It has 13 offices across the US, Europe, GCC and Asia, including India, China and Singapore. Currently, Investcorp Group has over $50 billion in total AUM—including assets managed by third-party managers—and employs approximately 480 people from 50 nationalities globally.

The global investment manager is also active in the mid-market private equity space in India and has invested across the consumer tech, healthcare, financial services, retail, SaaS, ecommerce, and technology sectors.

Its investments over the last four years include Intergrow Brands, FreshToHome, ZoloStays, InCred Finance, Citykart, Wakefit, InsuranceDekho, Nephroplus, Unilog, and Xpressbees.