Page 21 - Nexus Select News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Blackstone-backed Nexus Select Trust set to hit the capital markets by launching its retail REIT initial public offering from May 9 till May 11. The company has fixed a price band of Rs 95–100 per unit. The bidding for anchor investors will open on May 8, 2023. The public issue comprises a fresh issuance of units aggregating up to Rs 1,400 crore and an offer for sale of units by the selling unitholders aggregating up to Rs 1,800 crore. The company had earlier planned to raise around Rs 4,000 crore through the initial share sale.

This will be India's first REIT IPO backed by rent-yielding retail real estate assets; at present, there are three listed REITs on stock exchanges but all backed by office assets

The total size of the public issue includes fresh issue of units up to Rs 1,400 crore and an offer for sale of up to Rs 1,800 crore.

Nexus Select REIT will open for subscription on 9 May and close on 11 May. Anchor investors subscription will open on 8 May and finalisation of the basis of allotment will be on May 16. Initiation of refunds will be on May 17 and the stock will list on exchanges on 19 May.

   business bureaushopping mall operators are expected to earn 7-9 per cent higher revenue during this fiscal, driven by strong retail consumption and improved rentals in their properties, according to crisil. “buoyant retail sales an