According to people familiar with the matter, it was reported that NDR Warehousing, a logistics infrastructure company, had obtained funding of Rs 5 billion from Investcorp, an investor based in Bahrain. The funding was obtained in anticipation of NDR Warehousing's proposed infrastructure investment trust (InvIT).

It was mentioned that NDR Warehousing had submitted a draft placement memorandum (DPM) to the Securities and Exchange Board of India (SEBI) to raise approximately Rs 11.65 billion through an InvIT. The intention behind raising these funds was to repay specific loans related to construction. One of the sources stated that the draft documents were submitted to the market regulator on Friday and that the InvIT would be listed privately.

When asked for comment on the pre-InvIT funding, NDR Warehousing chose not to respond. This recent funding from Investcorp marks their second investment in NDR Warehousing, the first being a $55 million investment made last year.

The proposed InvIT, if successfully launched, would be the first of its kind by a storage company. According to the DPM, the offer would consist of a new issue of Rs 8.43 billion by NDR InvIT Trust, as well as an offer to sell Rs 3.22 billion by the selling shareholders.

NDR Warehousing, part of the NDR group, was founded in 1986. Under the leadership of N Amrutesh Reddy as managing director, the company has experienced significant growth, with a portfolio of 33 warehouses spread across 16.91 million square meters of lettable area in 12 cities.

The company has plans to expand its storage and industrial parks across the country by adding 4-5 million square feet per year.