Nexus Select Trust, the owner of India’s largest portfolio of consumption centres comprising 17 best-in-class Grade A urban consumption centres, two complementary hotel assets and three office assets, proposes to open on Tuesday, May 9, 2023, an initial public offering of Units for cash at a price per Unit aggregating up to Rs. 32,000.00 million. Bid/Offer Closing Date is Thursday, May 11, 2023. Bids can be made for a minimum of 150 Units and in multiples of 150 Units thereafter by Bidders other than Anchor Investors.
- Issue Opens on: Tuesday, May 9, 2023
- Issue Closes on: Thursday, May 11, 2023
- Price Band: ₹95 to ₹100 per Equity Share
- Minimum Bid: 150 Shares
Wynford Investments Limited (a portfolio company of Blackstone funds) is the Sponsor of Nexus Select Trust and Nexus Select Mall Management Private Limited is the Manager. Axis Trustee Services Limited is the Trustee of Nexus Select Trust.
The public offer comprises a fresh issuance of Units aggregating up to Rs. 14,000.00 million and an offer for sale of Units by the Selling Unitholders aggregating up to Rs. 18,000.00 million.
The Price Band for the Offer has been fixed from Rs. 95 per Unit to Rs. 100 per Unit. The Bid/Offer will close on Thursday, May 11, 2023. Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer Opening Date; i.e., Monday, May 8, 2023.
Chris Heady, Chairman of Asia Pacific, Blackstone said: “We are thrilled to launch Nexus Select Trust, India’s first retail-focused REIT. This reaffirms Blackstone’s commitment to India, where we have built a strong presence for more than 15 years and participated in the launch of its first two REITs.”
Dalip Sehgal, Chief Executive Officer of Nexus Select Mall Management Private Limited, said: “Nexus Select Trust is India’s largest mall platform and is well-positioned to capitalize on India’s unique consumption tailwinds. We are excited to be at the forefront of India’s retail journey.”
