Nexus Select Trust

Nexus Select Trust's sponsor group entities—BREP Asia SG Forum Holding (NQ) Pte. Ltd., Wynford Investments Ltd, SSIII Indian Investments One Ltd, and BRE Coimbatore Retail Holdings Ltd—have pledged a combined 228 million units (15.05% of the REIT's total outstanding units) to Deutsche Bank AG as onshore security agent. The pledge, created on June 3, 2026, secures a credit facility drawn by NXST ML (NQ) Limited under an existing financing agreement. The borrowing is for genuine business purposes outside India and involves no capital inflow into the country.

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May 12 (Reuters) - Nexus Select Trust NEXE.NS:

• NEXUS SELECT TRUST MARCH-QUARTER CONSOL PROFIT 121.8 MILLION RUPEES

• NEXUS SELECT TRUST MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 6.52 BILLION RUPEES

• NEXUS SELECT TRUST - DECLARED DISTRIBUTIONS OF 2.286 RUPEES PER UNIT

Further company coverage: NEXE.NS

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Adds statement from Embassy REIT CEO in paragraph 10, updates share moves

By Gopika Gopakumar and Hritam Mukherjee

MUMBAI, Feb 6 (Reuters) - India's central bank on Friday announced measures to boost credit to small businesses and the real estate sector to improve access to formal financing and strengthen last-mile lending.

The Reserve Bank of India proposed doubling the limit on collateral-free loans for small enterprises to 2 million rupees ($22,170.49) from 1 million rupees ($11,085.25).

The revised norms will apply to loans sanctioned or renewed from April 1, 2026.

The Reserve Bank of India also said banks would be allowed to lend to real estate investment trusts under prudential safeguards, extending a facility already available to infrastructure investment trusts.

REITs own and manage income-generating assets such as offices and malls. India's markets regulator recently allowed them to be treated as equity, opening the door to mutual fund investments.

Shares of Mindspace Business Parks REIT MINS.NS rose 0.9% to lead listed trusts, while Brookfield India Real Estate Trust BROF.NS gained 0.2% and Nexus Select Trust NEXE.NS advanced 0.5% in afternoon trade.

The broader benchmarks were mixed in afternoon trade, clawing back some of their losses after the central bank kept rates unchanged as expected on Friday.

"Upon review and considering the presence of strong regulatory and governance framework for listed REITs, it is proposed to permit commercial banks to extend finance to REITs, subject to appropriate prudential safeguards," the RBI said in a statement.

The existing guidelines are being aligned to match "prudential safeguards" proposed for lending to REITs, it added, and once made effective, could spur fresh funding into property assets and stoke the growth of the sector.

"This policy will help expand access to longer-term, competitive bank finance, which will support healthier balance sheets and stable growth by reducing the need for frequent refinancing," Amit Shetty, chief executive of Embassy Office Parks REIT EMBA.NS said.

($1 = 90.2100 Indian rupees).

(Reporting by Gopika Gopakumar in Mumbai and Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee)

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June 19 (Reuters) - Nexus Select Trust NEXE.NS:

• APPROVES RAISING DEBT OF 7 BILLION RUPEES

• DEBT CAN BE RAISED VIA COMMERCIAL PAPERS, NON-CONVERTIBLE DEBENTURES

Source text: ID:nBSE9J4QlL

Further company coverage: NEXE.NS

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MUMBAI, April 29 (Reuters) - India's Nexus Select Trust NEXE.NS has accepted bids worth 5.5 billion rupees ($64.55 million) for bonds maturing in seven years, three merchant bankers said on Tuesday.

The company will pay a coupon of 7.19% and had invited commitment bids from bankers and investors earlier in the day, they said.

Nexus Select Trust did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 29:

• Size includes base plus greenshoe for some issues

($1 = 85.2075 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Varun H K)

(([email protected]; [email protected]))

Feb 13 (Reuters) - Nexus Select Trust NEXE.NS:

• CLOSES ACQUISITION OF VEGA CITY MALL

• CLOSES DEAL FOR TOTAL ENTERPRISE VALUE OF 9.13 BILLION RUPEES

Source text: ID:nNSE4tgtPj

Further company coverage: NEXE.NS

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MUMBAI, Oct 21 (Reuters) - India's Nexus Select Trust NEXE.NS has accepted bids worth an aggregate of 10 billion rupees ($118.99 million) for bonds maturing in two years and seven months and in three years and eight months, three merchant bankers said on Monday.

The company will pay 7.69% on the shorter duration bonds and 7.72% on the over three-year bonds and the coupon would be paid on a quarterly basis, the bankers added.

The company had invited bids from bankers and investors for the issue earlier in the day.

It did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Oct. 21

*Size includes base plus greenshoe for some issues

($1 = 84.0410 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala
Editing by)

(([email protected]))

MUMBAI, Oct 18 (Reuters) - India's Nexus Select Trust NEXE.NS plans to raise an aggregate of 10 billion rupees ($118.9 million) through the sale of bonds maturing in two years and seven months and three years and seven months, three merchant bankers said on Friday.

The company has invited bids from bankers and investors for the issue on Monday, they said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Oct. 18:

*Size includes base plus greenshoe for some issues

($1 = 84.0490 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sumana Nandy)

(([email protected]))

MUMBAI, Oct 11 (Reuters) - India's Nexus Select Trust NEXE.NS plans to raise an aggregate of 9 billion rupees ($107.1 million) through a sale two bonds, one maturing in two years and eight months and the other in three years and eight months, three merchant bankers said on Friday.

The company has invited bids from bankers and investors for the issue on Tuesday, they said.

Here is the list of deals reported so far on Oct 11:

*Size includes base plus greenshoe for some issues

($1 = 84.0475 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Varun H K)

(([email protected]))

** Shares of Nexus Select Trust NEXE.NS rise as much as 2.4% to 133.50 rupees on being included in UK's FTSE indexes

** NEXE included in the FTSE all-cap .FTGEISAC, total-cap and small-cap .FTSC indexes in the December quarterly review

** More than 942,000 shares traded by 1:52 p.m. IST, 4.8x their 30-day avg

** Eight brokerages rate the stock "buy" or higher, 1 "hold"; their median PT is 136.50 rupees - LSEG data

** NEXE last up 1.3%; on track for ~26% gain since listing on May 19

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

MUMBAI, June 15 (Reuters) - India's Nexus Select Trust has accepted bids worth an aggregate of 10 billion rupees ($121.7 million) for bonds maturing in three years as well as five years, three merchant bankers said on Thursday.

It invited coupon and commitment bids for them earlier in the day.

Below is the list of deals reported so far on June 15

*Size includes base plus greenshoe for some issuances

($1 = 82.1729 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Sonia Cheema)

(([email protected]))

MUMBAI, June 9 (Reuters) - India's Nexus Select Trust plans to raise 10 billion rupees ($121.25 million) through the sale of bonds maturing in three years as well as five years, three merchant bankers said on Friday.

It has invited coupon and commitment bids for the issue on June 15, they said.

Below is the list of deals reported so far on June 9

*Size includes base plus greenshoe for some issuances

($1 = 82.4710 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)

(([email protected]))

June 6 (Reuters) - Nexus Select Trust NEXE.NS:

• APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES WORTH UPTO 7 BILLION RUPEES

• APPROVED ISSUE OF NCDS UP TO 3 BILLION RUPEES ON PRIVATE PLACEMENT BASIS

Source text for Eikon: ID:nNSE9VZ00P

Further company coverage: NEXE.NS

(([email protected];))

May 26 (Reuters) - Nexus Select Trust NEXE.NS:

• APPROVED RAISING OF DEBT FOR UP TO 23.50 BILLION RUPEES

Source text for Eikon: ID:nBSEbdm26z

Further company coverage: NEXE.NS

(([email protected];))

May 23 (Reuters) - Nexus Select Trust NEXE.NS:

• TO CONSIDER RAISING OF DEBT

Source text for Eikon: ID:nBSE5YGnXh

Further company coverage: NEXE.NS

(([email protected];))

BENGALURU, May 19 (Reuters) - Shares of Nexus Select Trust NEXE.NS, a Blackstone Inc BX.N-backed Indian retail REIT, pre-opened 3% higher at 103 rupees in their trading debut on Friday.

The company, better known as Nexus Malls, had said its initial public offer (IPO) was priced at 100 rupees a share.

Nexus Malls, which will be India's first publicly traded retail REIT, comprises 17 shopping complexes, two hotels and three office buildings.

(Reporting by Rama Venkat in Bengaluru; Editing by Savio D'Souza)

(([email protected]; https://twitter.com/ramavenkat0607; +91 8095218099;))

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Pranav Kiran

BENGALURU, May 4 (Reuters Breakingviews) - Global real estate markets are in a funk but Blackstone BX.N is pressing on with its initial public offering of its Indian shopping malls with the right amount of caution.

Its 17 properties in posh areas of big cities including Mumbai, Delhi and Bengaluru give brands like Apple AAPL.O and Inditex's ITX.MC Zara high-quality places to sell their goods to customers away from the chaotic and often hot and sweaty Indian high street. A shortage of large, well-located, air-conditioned retail spaces in the fast-growing economy is one reason the U.S. firm led by Stephen Schwarzman can be confident of attracting investors at a time when major IPO markets are cool and funds are turning cautious on property in the United States and Europe.

Blackstone’s $390 million offering in Mumbai of its real estate investment trust, Nexus Select, will be roughly a fifth smaller than it had earlier planned. But there are positive signs: the committed occupancy rate of the malls stood at 96.2% in December, up 2.7 percentage points in six months. Nexus could command a market value of around $2 billion, assuming investors apply a 20% discount to the company’s net asset value, slightly higher than the discount at which India’s three other main REITs trade. That would be equivalent to pricing at the top end of a narrow price range announced on Wednesday. A dividend yield of 8% looks healthy too against its peers, and also India’s 7% yield on 10-year sovereign paper.

The shopping mall deal will test investors' confidence in a well-heeled part of India's economy, where borrowing costs and inflation have risen more moderately than in the West. A successful deal also will give Blackstone something small to cheer in real estate at a time when it is still limiting redemptions on its $70 billion BREIT fund in the United States and dealing with a default by a company it controls backed by Nordic offices. That makes its little bit of caution very worthwhile.

Follow @PranavKiranBV on Twitter

CONTEXT NEWS

Blackstone’s Nexus Select, a real estate investment trust, on May 3 set the price range on its initial public offering. The offer of up to 32 billion rupees ($391.6 million) is comprised of new and existing units priced at between 95 and 100 rupees each.

(Editing by Una Galani and Thomas Shum)

((For previous columns by the author, Reuters customers can click on KIRAN/
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Recasts; adds details on potential investors

By M. Sriram and Rama Venkat

BENGALURU, May 3 (Reuters) - Brookfield Asset Management and Tata Group are in talks to invest in the upcoming initial public offering (IPO) for Nexus Malls, betting that the Indian real estate investment trust will benefit from a rise in the country's consumption levels, two sources told Reuters.

The IPO, the first-ever by an Indian retail REIT, comes at a time when volatile markets and global macroeconomic challenges have scuppered or delayed various listing plans in India.

Blackstone Inc BX.N-owned Nexus is seeking a valuation of about $3 billion and plans to raise about $390 million in the share sale, a newspaper advertisement showed on Wednesday.

Nexus Malls owns 17 commercial properties across 13 Indian cities. Apple Inc AAPL.O last month opened its second fully-owned store in India in a Nexus-owned shopping mall in New Delhi.

Indian conglomerate Tata Group is investing in the IPO via its unit Tata Investment Corporation TINV.NS, the sources, who did not want to be named because the discussions are private, said.

Other anchor investors include state-owned State Bank of India Life Insurance SBIL.NS, SBI Mutual Fund, HDFC Life Insurance HDFL.NS, HDFC Mutual Fund and Star Health Insurance, they added.

Apart from Canadian investment firm Brookfield, other foreign investors include U.S-based Jane Street and Asian fund Prusik Investment management, both the sources said.

Spokespersons for Nexus and Star Health declined to comment on the deal while others did not respond to queries seeking comment.

Nexus is betting on a "consumption mega trend" with malls recovering and growing reasonably fast post the pandemic-lockdowns, Nexus CEO Dalip Sehgal said at an IPO press conference in Mumbai on Wednesday.

Losses for the REIT narrowed to $1.34 million for the year ended March 31, 2022 from $24.45 million a year ago.

Axis Capital, IIFL Securities, BofA Securities India were among the book running lead managers to the IPO.

Nexus Malls is set to start trading on the stock exchanges on May 19.

($1 = 81.8150 Indian rupees)

(Reporting by Rama Venkat in Bengaluru; Editing by Janane Venkatraman, Sonia Cheema and Nivedita Bhattacharjee)

(([email protected]; https://twitter.com/ramavenkat0607; +91 8095218099;))