Nexus Select Trust - IPO

What is a REIT?

A REIT, which stands for Real Estate Investment Trust, is similar to a mutual fund in that it allows investors to pool their money for real estate investments. The REIT then uses these funds to invest in commercial properties, and generates returns through rental income and appreciation in property value.

About the Company:

Nexus Select Trust is a real estate investment trust that’s at the forefront of India’s consumption centre industry. With 17 Grade-A Urban Consumption Centres located in 14 cities, Nexus Select Trust offers a premier platform for businesses to thrive. The company’s holdings include 17 Grade A urban consumption centres spanning a total leasable area of 9.8 msf, along with two complementary hotel assets (354 keys) and three office assets spanning 1.3 msf as of December 31, 2022. These properties house a diverse range of tenants from various sectors, including apparel and accessories, hypermarket, entertainment, and food and beverages (F&B). In addition to providing top-tier properties, Nexus Select Trust is committed to sustainability, pursuing over 50 ESG initiatives to positively impact both people and the environment. The company serves 14 cities in India, including Delhi, Navi Mumbai, Bengaluru, Pune, Hyderabad, and Chennai, which accounted for 30% of India’s total discretionary retail spending in FY20.

IPO Details
Opening Date May 9, 2023
Closing Date May 11, 2023
Basis of Allotment May 16, 2023
Initiation of Refunds May 17, 2023
Credit of Shares to Demat May 18, 2023
Listing Date May 19, 2023
Price Range ₹95 - ₹100*
Lot Size 150 shares
Listing of Shares NSE and BSE

*Since cancellation is not allowed and modification on higher side is only allowed, we have kept the bid price fixed at ₹100.

Are there any comparable companies listed?

Certainly. Brookfield India REIT, Embassy Office Parks REIT, and Mindspace Business Parks REIT are all similar companies that are publicly traded.

Important Note:

All REIT IPO applications made through UPI fall under the NII category. As a result, these applications cannot be cancelled once submitted. The maximum application size for REIT IPOs via UPI is also capped at Rs 5 lakhs, which is in line with other IPOs under the UPI mechanism.

– Shrimohan
Product Operations @ Dhan