Nexus Select Trust REIT IPO: Here's how to check allotment status and GMP

Nexus Select Trust REIT's IPO, which received a strong response during the three-day bidding process for the issue, is likely to announce its allotment status on Tuesday. Bidders for the issue will get shares on a lottery basis, which is due on May 16, 2023.
 

Blackstone-backed 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 feet (msf), two complementary hotel assets (354 keys), and three office assets of 1.3 msf as of December 31, 2022.

Last heard, the listing bound units of Nexus Select Trust were commanding a premium of Rs 3-5 apiece in the grey market, hinting towards some mild gains for the investors.
 

Nexus Select Trust's primary offering was open for subscription between May 9-11.  The owner of India's largest mall assets is eyed to raise Rs 3,200 by selling its 32 crore units in the price band of Rs 95-100 apiece. Nexus Select is India’s maiden retail assets-led Real Estate Investment Trust (REIT).

The issue was overall subscribed 5.45 times. The portion of qualified institutional bidders (QIBs) was subscribed 4.81 times, while the allocations for non-institutional or other investors was booked 6.23 times. Each lot of the REIT cost Rs 15,000 to the bidders.
 

A majority of the brokerage firms have suggested subscribing to the issue citing its reasonable valuations, rising urban consumption, healthy yields and growth potential after acquisition. However, they have cited a decline in footfalls at urban centres, dependence on large tenants or their businesses and debt levels as the key risks for the investors.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Nexus Select Trust in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of KFin Technologies Limited (kprism.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.

Bidders who could not get allotment in the IPO may see the initialisation of refunds on May 17. Others, who would be allotted shares may see the credit of shares, in the Demat account by May 18. The listing of the IPO is likely on May 19.

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