Nexus Select Trust to raise up to Rs 3,200 Cr from its retail REIT public issue, to launch IPO in May


Share post:

Press Trust of India ( )

Nexus Select Trust, which is sponsored by global investment firm Blackstone, plans to raise up to Rs 3,200 crore from India’s first retail REIT (Real Estate Investment Trust) public offer. The total size of the public issue (Rs 3,200 crore) includes fresh issue of units up to Rs 1,400 crore and an offer for sale of up to Rs 1,800 crore.

This will be the third REIT sponsored by Blackstone.

Earlier, the company had planned to raise up to Rs 4,000 crore from its proposed Initial Public Offer (IPO). The company has filed its offer document with market regulator SEBI, and the issue will hit the market in the second week of May.

In November last year, Nexus Select Trust filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch its retail REIT public issue. Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities, covering a 9.8 million square feet area.

It launched India’s first REIT Embassy Office Parks and then Mindspace Business Parks 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.

At present, there are three listed REITs—Embassy Office Parks REIT, Mindspace Business Parks REIT, and Brookfield India Real Estate Trust—on Indian stock exchanges, but all of these are leased office assets.

Nexus Select Trust will be the first REIT with rent-yielding retail real estate assets.

Nexus Select Trust’s portfolio of 9.8 million square feet of retail real estate also includes Select Citywalk Mall in New Delhi.

Source link


Please enter your comment!
Please enter your name here


Related articles

Qantas Airways’ international flying to be twice as lucrative in post-Covid era

Bloomberg | | Posted by Zarafshan Shiraz Qantas Airways Ltd. said international flying will be at...

European tourism: 5 things to know about Moldova, one of Europe’s poorest countries with 300 days of sunshine per year

Moldova, which hosts the second summit of the European Political Community on Thursday where 47...

Air France flight to Paris turns back to Osaka in Japan after malfunction

Reuters | | Posted by Zarafshan Shiraz, Tokyo An Air France KLM SA passenger plane flying...

Senior travel made easy: Tips for older adults to plan your summer getaway

Summer travel is a fantastic opportunity for older adults to explore new cultures, witness new...