Nexus Select Trust IPO:
Nexus Select Trust, a leading real estate investment trust, successfully raised Rs 1,440 crore from 20 anchor investors on May 8, ahead of its IPO opening. According to the company’s filing to exchanges, 14.39 crore units were allocated to the investors at a price of Rs 100 per unit. The anchor book included investors such as Morgan Stanley Asia, Segantii India Mauritius, and HDFC Trustee.
The allocation of up to “4.79 crore units to 3 domestic mutual funds through a total of 6 schemes” was also mentioned in the exchange filing. Nexus Select Trust owns India’s largest portfolio of consumption centers, consisting of 17 Grade A urban consumption centers.
The initial public offering for subscription will open on May 9, with a price band of Rs 95-100 per unit. The company aims to raise Rs 3,200 crore through the IPO, which includes a fresh issuance of units worth Rs 1,400 crore, and an offer for the sale of units worth Rs 1,800 crore by selling unitholders. The offer will close on May 11, 2023.
Wynford Investments, a portfolio company of Blackstone funds, sponsors Nexus Select Trust, while Nexus Select Mall Management is the Manager, and Axis Trustee Services is the Trustee of the trust.
About Nexus Select Trust:
The premier consumption centre and real estate investment trust platform in India is Nexus Select Trust. The greatest in the nation, it has 17 excellent Urban Consumption Centres spread over 14 cities. The firm has a great tenant mix that includes a variety of industries, such as but not limited to, hypermarkets, entertainment, and food and drinks (F&B). Nexus is also actively involved in more than 50 ESG projects to improve the lives of both people and the environment.
For More Latest News Click Here
