NXST

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)

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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)

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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)

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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

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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

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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.

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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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BENGALURU, May 3 (Reuters) - India's Nexus Select Trust, a mall real estate investment trust portfolio backed by Blackstone Inc BX.N, has set the price band for its initial public offering at 95 rupees to 100 rupees per unit, a newspaper advertisement showed on Wednesday.

(Reporting by Rama Venkat in Bengaluru; Editing by Janane Venkatraman)

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