“The company is expected to file a DRHP by March with SEBI, and we expect to list by August. Some of our existing investors are looking to participate in the pre-InVIT round,” said Amrutesh Reddy, Managing Director, NDR Warehousing.
The Sebi website lists 19 registered InVits, and most are based in Mumbai and Delhi-NCR.
It currently has a 15 million square foot portfolio and plans to add 4-5 million square feet per year to its warehouses and industrial parks across the country.
“The idea is to have 19mn sq ft of portfolio by the time we go for InVIT. For the current portfolio, all the land and investments are tied up,” he said. The company currently has over 4 million square feet of warehousing and industrial assets under construction, with an investment of ₹800 crore.
The company, backed by global investment manager Investcorp, is also looking at inorganic growth options and joint ventures to expand its portfolio. Last year, Investcorp led a $55-million investment in NDR Warehousing through a convertible instrument.
NDR Warehousing holds 150 acres of land in Mumbai, Chennai, the NCR, and Bengaluru.
