Nexus Select Trusts IPO On May 9, Nexus Select Trust will announce its 3200 crores initial public offering. Under this IPO, new shares worth Rs 1400 crore will be issued. Additionally, shares worth up to Rs 1,800 crore will be sold via an OFS (Offer For Sale).
Nexus Select Trusts IPO Starts From 09 May, 2023 Know Complete Information And Strategy About Company
Nexus Select Trusts IPO : Before briefing you about company’s IPO you must know about all about company.
About Nexus Select Trusts Company
- The largest mall platform in India is Nexus Select Trust.
- It consists of 17 premium assets spread throughout 14 major cities in residential regions with high population densities.
- Delhi (Select Citywalk), Navi Mumbai (Nexus Seawoods), Bengaluru (Nexus Koramangala), Chandigarh (Nexus Elante), and Ahmedabad (Nexus Ahmedabad One) are the cities where these assets are situated.
- It contains 17 shopping malls with around 3,000 stores total, including about 1,100 brands.
About Nexus Select Trust IPO
The initial public offering (IPO) of Nexus Select Trust, a corporation supported by the large international investment firm Blackstone, is scheduled to begin on May 9. Investors have till May 11 to make an investment in this issue.
- Through this IPO, the company hopes to raise Rs 3200 crore.
- The first REIT (Real Estate Investment Trust) IPO in India will be this one.
- Under this IPO, new shares worth Rs 1400 crore will be issued.
- Additionally, under an Offer for Sale (OFS), shares worth up to Rs 1,800 crore will be sold.
- On May 8, the IPO will be available to anchor investors.
While the distribution of shares will take place on May 16. On May 17, unsuccessful investors will receive a refund. Additionally, the company’s IPO on the stock market is anticipated to take place on May 19.
The repayment and redemption of the asset SPV and particular financial liabilities associated with the investment firm will cost Rs 250 crore of the issue proceeds. Asset SPV had a bank loan balance of Rs 4,705.12 crore as of December 2022. Meanwhile, the debt security’s outstanding principal balance is Rs. 126.80 crore.
Along with this, the company will buy a stake in Asset SPV and redeem debt securities with the remaining Rs 1,050 crore. A portion of the revenues would be used by Nexus Select Trust to buy a 30% share in Nexus Indore Central (NMMCPL) from Olive Commercial Company Limited.
It also has ambitions to fully own WRPL and redeem the debt securities that some sponsor group companies had issued to the company.
On the Indian stock exchanges, there are currently three REIT listed companies.
The first REIT on the stock market to own retail centres and real estate assets will be Nexus Select Trust.
- These include Brookfield India Real Estate Trust.
- Mindspace Business Park REIT.
- Embassy Office Parks REIT.
Nexus Select Trusts IPO FAQ
Q.1 What Is Nexus Select Trusts?
A.1 Nexus Select Trusts is India’s one of the leading real estate investment trust having the largest mall platform in India.
Q.2 When Nexus Select Trust IPO Starts?
A.2 Nexus Select Trusts IPO Starting Date :- May 09, 2023.
Q.3 Official Website Of Nexus Select Trust IPO.
Q.4 Nexus Select Trust IPO GMP.
A.4 Nexus Select Trusts IPO GMP Will Released On May 09, 2023.