Nexus Select Trust REIT will open for subscription from 09 May 2023. the company aims for an issue size of ₹3,200Cr through this IPO.
About Company
The REIT’s portfolio includes 17 Grade A urban consumption centers with a total Leasable Area of 9.2 msf, two complementary hotel assets (354 keys), and three office assets (1.3 msf) as of 31 December 2022. Its assets are strategically located across 14 leading cities in India, which constituted 30% of India’s total discretionary retail spending in FY 2020 and had an average population CAGR that was 226 bps higher than the national average from financial years 2011 to 2021.
highest quality assets in prime in-fill locations of India’s major cities such as Delhi, Navi Mumbai, Bengaluru, Pune, Hyderabad, and Chennai. These cities have limited organized retail stock and continue to witness strong demand fundamentals as domestic and international retailers expand their businesses even as the future supply of retail space is expected to remain constrained.
A majority of its portfolio assets are market leaders in their respective submarkets and serve as shopping, entertainment, and social destinations for their respective catchments. As a result, it enjoyed a 96.2% average Committed Occupancy across the portfolio as of 31 December 2022, an 11% CAGR in tenant sales from FY 2018 to FY 2021, and a 7.5% CAGR in Marginal Rents across the portfolio from CY 2016 to CY 2019.
Basic details about the company
| Full name | Nexus Select Trust |
| Sector | Finance |
| Industry | Finance-Investment |
| Company Website | https://www.nexusselecttrust.com/ |
The Objective of the Issue
- Partial or full repayment or prepayment and redemption of the certain financial indebtedness of the Asset SPVs and the Investment Entity,
- Acquisition of stake and redemption of debt securities in certain Asset SPVs,
- General purposes.
IPO Timetable
| IPO Opening date | 09 May 2023 |
| IPO Closing | 11 May 2023 |
| Basis of Allotment | 16 May 2023 |
| Initiation Refund | 17 May 2023 |
| Credit to Demat Account | 18 May 2023 |
| Listing Date | 19 May 2023 |
IPO details
| Issue type | Book Built Issue REIT |
| IPO issue size | ₹3,200 Cr |
| Fresh Issue | ₹1,400 Cr |
| Offer for sale | ₹1,800 Cr |
| Face value | Not applicable |
| Price Band | ₹95 to ₹100 per share |
| Lot size | 150 Shares |
| Listing Exchange | BSE & NSE |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹15,000 |
Reservation Details
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 25% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | 9M FY 2023 | |
| Revenue | 1,621.98 | 906.98 | 1,318.21 | 1,463.15 |
| Expenses | 630.97 | 434.94 | 540.53 | 564.17 |
| Net income | 206.74 | (199.11) | (10.95) | 257.02 |
| PAT Margin (%) | 12.75 | (21.95) | (0.83) | 17.57 |
Sponsors of Nexus Select REIT
- Wynford Investments Limited
Lead Manager(s)
- Bofa Securities India Limited
- Axis Capital Limited
- Citigroup Global Markets India Private Limited
- HSBC Securities & Capital Markets Pvt Ltd
- IIFL Securities Ltd
- JM Financial Limited
- J.P. Morgan India Private Limited
- Kotak Mahindra Capital Company Limited
- Morgan Stanley India Company Pvt Ltd
- SBI Capital Markets Limited
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Telephone: +91 40 6716 2222
Email: nexusselecttrust.ipo@kfintech.com
Website: www.kfintech.com
Contact Details
NEXUS SELECT TRUST
Embassy 247, Unit No. 501, B Wing,
Lal Bahadur Shastri Marg, Vikhroli West, Mumbai 400 083
Phone: +91 22 6280 5000
E-mail: investor.relations@nexusmalls.com
Website: www.nexusselecttrust.com
Allotment Status
Nexus Select REIT IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Nexus Select Trust REIT is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
