Nexus Select Trust REIT IPO to open on May 9: Check price band & other details
The public offer comprises a fresh issuance of units aggregating up to Rs 1,400 crore and an offer for sale of units by the selling unitholders aggregating up to Rs 1,800 crore.
- May 3, 2023,
- Updated May 3, 2023 5:49 PM IST
The initial public offer (IPO) by Nexus Select Trust, a real estate investment trust portfolio backed by Blackstone Inc, will open for subscription on May 9, 2023, with an objective to raise Rs 3,200 crore from the primary market. The three-day REIT IPO will close on May 11, 2023.
The public offer comprises a fresh issuance of units aggregating up to Rs 1,400 crore and an offer for sale of units by the selling unitholders aggregating up to Rs 1,800 crore.
The price band for the offer has been fixed from Rs 95 per unit to Rs 100 per unit. Anchor investor offer period will be one working day prior to the opening date of the IPO (May 8, 2023).
Key points:
• Price band fixed at Rs 95 per Unit to Rs 100 per unit • Offer opening date: May 9, 2023, Tuesday • Offer closing date: May 11, 2023, Thursday • Bids can be made for a minimum of 150 Units and in multiples of 150 units thereafter by bidders other than anchor investors
Dalip Sehgal, Chief Executive Officer of Nexus Select Mall Management said: “Nexus Select Trust is India’s largest mall platform and is well-positioned to capitalise on India’s unique consumption tailwinds. We are excited to be at the forefront of India’s retail journey.”
The book running lead managers to the offer include BofA Securities India, Axis Capital, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), IIFL Securities, JM Financial, JP Morgan India, Kotak Mahindra Capital Company, Morgan Stanley India Company and SBI Capital Markets.
Chris Heady, Chairman of Asia Pacific and Head of Real Estate Asia, 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.”
Watch: Hot stocks on May 3, 2023: Adani Enterprises, RVNL, Bombay Burmah, UCO Bank and more
The initial public offer (IPO) by Nexus Select Trust, a real estate investment trust portfolio backed by Blackstone Inc, will open for subscription on May 9, 2023, with an objective to raise Rs 3,200 crore from the primary market. The three-day REIT IPO will close on May 11, 2023.
The public offer comprises a fresh issuance of units aggregating up to Rs 1,400 crore and an offer for sale of units by the selling unitholders aggregating up to Rs 1,800 crore.
The price band for the offer has been fixed from Rs 95 per unit to Rs 100 per unit. Anchor investor offer period will be one working day prior to the opening date of the IPO (May 8, 2023).
Key points:
• Price band fixed at Rs 95 per Unit to Rs 100 per unit • Offer opening date: May 9, 2023, Tuesday • Offer closing date: May 11, 2023, Thursday • Bids can be made for a minimum of 150 Units and in multiples of 150 units thereafter by bidders other than anchor investors
Dalip Sehgal, Chief Executive Officer of Nexus Select Mall Management said: “Nexus Select Trust is India’s largest mall platform and is well-positioned to capitalise on India’s unique consumption tailwinds. We are excited to be at the forefront of India’s retail journey.”
The book running lead managers to the offer include BofA Securities India, Axis Capital, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), IIFL Securities, JM Financial, JP Morgan India, Kotak Mahindra Capital Company, Morgan Stanley India Company and SBI Capital Markets.
Chris Heady, Chairman of Asia Pacific and Head of Real Estate Asia, 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.”
Watch: Hot stocks on May 3, 2023: Adani Enterprises, RVNL, Bombay Burmah, UCO Bank and more