About Nexus Select Trust REIT
Note: The retail category is not available for this IPO and applications can only be made in the Non-institutional investor (NII) category with a maximum application size of Rs. 5 lakhs. As per SEBI regulations, applications made in the NII category cannot be canceled and can only be modified upwards.
What is a REIT?
REITs [Real Estate Investment Trusts] are like mutual funds for real estate investment. Investors pool their money, and a REIT invests in commercial properties. Returns come from rental income and property value appreciation. Check out this asset allocation module on Varsity to learn how you can use REITs in your investment portfolio.
Here are the REITs already listed in India:
If you have any queries on REITs, you can post them on TradingQnA.
About Nexus Select Trust REIT
Backed by Blackstone Inc., Nexus Select Trust is the owner of India’s leading consumption centre platform, primarily investing in retail real estate assets.
As of December 31, 2022, the portfolio of Nexus Select Trust includes 17 operational shopping malls across 14 major, covering an area of 9.2 million square feet with a tenant base of 1,044 domestic and international brands with 2,893 stores. Along with this the portfolio also includes two hotel assets and three office assets totaling 1.2 million square feet area.
The Nexus Select Trust REIT (Real Estate Investment Trust) will be the first in the retail real estate space. The three REITs listed on the stock exchanges, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Brookfield India Real Estate Trust are focused on leased office assets.
The initial public offering comprises a fresh issue of units worth Rs. 1,400 crores and an offer for sale of units aggregating up to Rs. 1,800 crores.
Objects 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.
Financial Information
| Financial Year | Total Assets (₹ crores) | Total Revenue (₹ crores) | Profit After Tax (₹ crores) | EBITDA (₹ crores) |
| March 31, 2020 | 9,527.64 | 1,708.19 | 206.74 | 1077.22 |
| March 31, 2021 | 8,959.36 | 1,047.97 | -199.11 | 613.03 |
| March 31, 2022 | 9,089.77 | 1,398.52 | -10.95 | 857.98 |
| As of December 31, 2022 | 8,989.53 | 1,498.35 | 257.02 | 934.18 |
IPO Schedule
| Issue Period | 9th May to 11th May 2023 |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | 16th May 2023 |
| Initiation of Refunds | 17th May 2023 |
| Credit of Shares | 18th May 2023 |
| Date of Listing | 19th May 2023 |
| Mandate end date | 26th May 2023 |
| Anchor Investors Lock-In End Date | 10th June 2023 |
How do I apply to the Nexus Select Trust REIT IPO?
You can apply for the Nexus Select Trust REIT IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
Where do I check the allotment status for Nexus Select Trust REIT IPO?
You can check the allotment status for the Nexus Select Trust REIT IPO on the website of the Registrar and Transfer agent.
Alternatively, you can also check the allotment status on the NSE website.