Nexus select trust ipo

At the upper band of Rs 100 per unit, the company commands a market cap of Rs 15,150 crore and the issue is at Price/NAV of 0.78x. It is offering pre-tax yield of 8% in FY24, at the upper price band. Nexus Select Trust is India’s largest mall platform of 17 high-quality assets, strategically located in dense residential catchments across 14 prominent cities. The portfolio comprises 17 Grade A urban consumption centres with a total leasable area of 9.2 msf, 2 complementary hotel assets (354 keys) and 3 office assets (1.3 msf) as of December 2022. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. Four state-owned financial entities — Punjab National Bank, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda — that together own just over 45% of UTI Asset Management Company (AMC) are understood to be working on inviting formal bids for selling their stakes, top officials close to the development told ET. • 5,218.75 03:58 PM | 15 Jun 2023 209.75 (4.19%) 3,581.05 03:58 PM | 15 Jun 2023 95.10 (2.73%) 4,803.45 03:54 PM | 15 Jun 2023 104.45 (2.22%) 998.20 03:58 PM | 15 Jun 2023 19.50 (1.99%) • 2,843.05 03:59 PM | 15 Jun 2023 -88.55 (-3.02%) 1,297.10 03:57 PM | 15 Jun 2023 -26.15 (-1.98%) 388.95 03:59 PM | 15 Jun 2023 -7.50 (-1.89%) 566.50 03:59 PM | 15 Jun 2023 -10.05 (-1....

Synopsis India's first retail asset offering, Nexus Select Trust, will launch its IPO on May 9, closing on May 11, with a price band for its initial shares of between INR 95-100 ($1.28-$1.35). The company, which has 17 high-quality mall assets in 14 cities across India with a total leasable area of 9.2 million sq ft, is the country's largest mall platform. The IPO comprises a fresh issue of shares worth INR 1,400 crore and a sale of existing shares of up to INR 1,800 crore. The initial share sale of 1) What is a REIT? REIT, a popular instrument globally, was introduced in India a few years ago to attract investment in the real estate sector by monetising rent-yielding assets. It helps unlock the massive value of real estate assets and enables the participation of retail investors. 2) Company Overview Nexus Select Trust is India’s largest mall platform of 17 high-quality assets strategically located in dense residential catchments across 14 prominent cities. The portfolio comprises 17 Grade A urban consumption centres with a total leasable area of 9.2 msf, 2 complementary hotel assets (354 keys), and 3 office assets (1.3 msf) as of December 2022. The portfolio is also highly stabilized, with committed occupancy of 96.2% and 5.7-year WALE as of December 2022. For the three months ended June 2022, the REIT's net profit stood at Rs 84.6 crore, while revenue was Rs 466 crore. 6) Operational Performance Over the last 3 fiscal years, Nexus Select Trust has leased 4.2 msf, added 4...

  Global private equity major Blackstone Group-backed Nexus Select Trust has set the share’s price band for its initial public offering at Rs 95-100 per share. The firm earlier said that its issue will open its initial public offering for subscription on May 9 and close on May 11, in what will be India’s maiden pure-play retail mall REIT offering. Anchor investors' subscriptions will open on May 8 and finalisation on the basis of allotment will be on May 16. Initiation of refunds will take place on May 17 and the stock will list on exchanges on May 19. The total offering of Rs 3,200 crore comprises fresh share issuance of up to Rs 1,400 crore and an offer for sale of up to Rs 1,800 crore. Proceeds from the issue worth Rs 250 crore will be used towards repayment and redemption of specific financial liabilities associated with the Asset SPVs and the investment entity. As of December 2022, the Asset SPVs have an outstanding bank loan amount of Rs 4,705.12 crore while the principal amount outstanding towards debt securities is Rs 126.80 crore. The firm also plans to use Rs 1,050 crore for the acquisition of stake and redemption of debt securities in certain Asset SPVs. Nexus Select Trust proposes to utilize part of net proceeds towards the acquisition of a 30 percent stake in Nexus Indore Central (NMMCPL) from Olive Commercial Company Ltd. It also plans to acquire a 100 percent stake in WRPL and redemption of debt securities issued by WRPL to certain Sponsor Group entitie...

How to check the Nexus Select Trust IPO allotment status? When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes. Here’s a step-by-step guide on how to check the Nexus Select Trust Ltd IPO allotment status: • Login to your Upstox account, using your six-digit PIN • After logging in, click on ‘Discover’ • On the ‘Discover’ page, you will find the ‘Invest in IPO’ section • Under the Invest in IPO section, you will find the ‘View all’ option • Once you click on ‘View all’, you will be directed to the ‘IPO’ tab • In the ‘IPO’ tab, click on ‘My applications’ • In ‘My applications’, under the History section, your Nexus Select Trust IPO allotment status will be mentioned About Nexus Select Trust IPO With economic activities in India recovering post the pandemic, shopping malls are once again buzzing. The revival in consumption is driving footfalls in malls across India. Against this backdrop, Blackstone-backed Nexus Select Trust – a retail real estate investment trust (REIT) – is launching its IPO. For the uninitiated, REITs invest in income-generating assets like malls and offices and pay dividends. The dividend payouts are based on the rental income generated by these properties. The Nexus Select Trust consists of 17 operational shopping centres with a total leasable area of 9.2 million square feet (msf), two hotels (354 keys) and three office assets ...

Synopsis Nexus Select Trust, the first Real Estate Investment Trust (REIT) backed by rent-yielding retail real estate assets, has been subscribed 57% on the second day of the Rs3,200 crore ($434m) Initial Public Offering (IPO), according to an update. The non-institutional investors' category has been fully subscribed while the qualified institutional buyer’s share was subscribed 17%. Blackstone sponsors the REIT, which has a portfolio of 17 operational shopping malls, two hotels and office spaces across 14 cities in India including New Delhi's Select City Walk. The issue runs until 11 May. The Initial Public Offering (IPO) of Nexus Select Trust, the first REIT backed by rent yielding retail real estate assets, was subscribed 57 per cent on the second day of the offer on Wednesday. The Rs 3,200 crore-share The Non Institutional Investors category got fully subscribed, while Qualified Institutional Buyers (QIBs) portion received 17 per cent subscription. Post-IPO, the shareholding of Blackstone in Nexus Select Trust will come down to 43 per cent from 60 per cent. Select City Walk promoters' stake will reduce slightly to 24.3 per cent from 25 per cent. At present, there are three listed REITs -- Embassy Office Parks REIT, Mindspace Business Parks REIT and Brookfield This is the third REIT sponsored by Blackstone. It launched India's first REIT Embassy Office Parks and then Mindspace Business Parks REIT. BofA Securities India, Axis Capital, Citigroup Global Markets India, HSB...

Synopsis Nexus Select Trust plans to raise Rs 3,200 crore through an 3-day IPO opening on 9 May. The firm is the owner of India's largest mall platform consisting of 17 assets. The trust will become India's first REIT with rent-yielding retail estate assets, with the IPO comprising a fresh offering and OFS portion worth up to Rs 1,800 crore. REIT, a popular instrument globally, was introduced in India a few years ago to attract investment in the real estate sector by monetising rent-yielding assets. It helps unlock the massive value of real estate assets and enables the participation of retail investors. Upon listing, Nexus will be India’s first REIT with rent-yielding retail real estate assets. "Based on the fair asset value of Rs 25,444 crore, the calculated net asset value per unit is Rs 120.9, which is 20.9% higher than the ceiling price of the issue. At higher price band (i.e. Rs. 100), the calculated pre-tax yield on the investment is around 8% (based on FY24E NDCF)," Choice Broking said, while assigning a subscribe portion to the issue. Nexus Select Trust is India’s largest mall platform of 17 high-quality assets, strategically located in dense residential catchments across 14 prominent cities. The portfolio comprises 17 Grade A urban consumption centres with a total leasable area of 9.2 msf, 2 complementary hotel assets (354 keys) and 3 office assets (1.3 msf) as of December 2022. The portfolio is also highly stabilized with committed occupancy of 96.2% and 5.7-yea...

Blackstone-backed Nexus Select Trust's primary offering for REIT (Real Estate Investment Trust) opens for subscription on Tuesday, May 9. The owner of India's largest mall assets is likely to raise via Rs 3,200 this issue by selling its units in the price band of Rs 95-100 apiece, which concludes on Thursday, May 11. The offering consists of fresh issues of 14 crore units worth Rs Rs 1,400 crore and an offer for sale (OFS) of 18 crore units of Rs 1,800 crore. The total issue is for 32 crore units. Nexus Select is India’s maiden retail assets-led Real Estate Investment Trust (REIT). Nexus Select Trust is India's leading consumption centre platform with 17 Grade-A best-in-class Urban Consumption Centres spread across 14 cities with a total leasable area of 9.8 million square feets (msf), two complementary hotel assets (354 keys), and three office assets of 1.3 msf as of December 31, 2022. The company has curated a healthy mix of tenants across sectors such as apparel and accessories, hypermarket, entertainment, and food and beverages. It serves 14 cities in India including Delhi, Navi Mumbai, Bengaluru, Pune, Hyderabad, and Chennai, which constituted 30 per cent of India's total discretionary retail spending in FY20. A day ahead of its issue, Nexus Select Trust has raised over Rs 1,440 crore through its anchor book that is fully-subscribed by a total 16 institutional investors, including various domestic and global funds, who were allocated 14.39 crore units at an issue pr...

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Nexus Select Trust REIT Subscription Status Live Nexus Select Trust REIT subscribed 5.45 times. The public issue subscribed [.] times in the retail category, 4.81 times in QIB, and [.] times in the NII category by May 11, 2023. Investor Category Subscription (times) Shares Bid for Total Amount (Rs Cr.)* Qualified Institutions 4.81 48,61,32,150 4,861.32 Non-Institutional Buyers [.] 0 0 Employees [.] 0 0 Others 6.23 52,42,11,450 5,242.11 Total 5.45 1,01,03,43,600 10,103.44 Disclaimer: *The total amount is calculated based on the final issue price or the price in the upper price range. Nexus Select Trust REIT Shares Offered Nexus Select Trust REIT is a public issue of 185,263,050 equity shares. The issue offers 0 shares to retail investors, 101,052,450 shares to qualified institutional buyers, and 0 shares to non-institutional investors. Category Shares Offered Amount (Rs Cr) Size (%) QIB 101,052,450 1,010.52 54.55% Others 84,210,600 842.11 45.45% Total 185,263,050 1,852.63 100% IPO Investor Categories • Qualified Institutional Buyers (QIB) Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes of insurance companies, and pension schemes. • Non-Institutional Investors(NII) Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc who bid for shares worth more than Rs 2 lakhs are known as Non-institutional bidders (NII). Unlike QIB bidders, the...