Nexus Select Trust REIT IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Nexus Select Trust REIT IPO will open on May 9 and close on April 11, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 3,200 crores through this public offering.
About Nexus Select Trust REIT Limited (“the Company”)
Nexus Select Trust owns India’s leading consumption centre platform of high-quality properties, serving as the essential consumption infrastructure for India’s growing middle class. Upon listing its units on the stock exchanges, the organisation is expected to be the first publicly listed consumption centre REIT in India. Consumption growth has acted as a key driver of the Indian economy over the past decade. They believe that our portfolio is well-positioned to benefit from the consumption-friendly wind of India’s growing middle class and rapid urbanisation. Their portfolio offers an attractive opportunity to capitalise on India’s consumption growth through a strong business model and a diversified asset base that can act as a natural hedge against inflation.
The company’s portfolio comprises 17 best-in-class Grade A urban consumption centres with a total leasable area of 9.8 msf by June 30, 2022, two complementary hotel properties (354 keys), and three office properties (1.3 msf). It owns India’s largest portfolio of consumption centres and a replicating platform of similar scale, quality, and geographic diversity. Its properties are strategically located across 14 major cities in India. As a result, they enjoyed 93.5% average committed occupancies across our portfolio as of June 30, 2022, 10.7% CAGR in sales to tenants from FY18 to FY2011, and 7.5% CAGR in marginal rents across their portfolio from CY16 to CY19, 122 bps above average marginal rent for our portfolio markets.
Objects of the Issue,
The Nexus Select Trust will not receive any proceeds from the offer for sale, and the proceeds received will not form part of the net proceeds.
The net proceeds from the fresh issue will be utilised towards the following objects:
- Partial or full repayment or prepayment and redemption of the certain financial indebtedness of the asset SPVs and the investment entity;
- Acquisition of stakes and redemption of debt securities in certain asset SPVs; and
- General purposes
Financial Highlights (Restated Consolidated)
| Particulars | The period ended on 30th Dec. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Total Assets | 8,990 | 9,090 | 8,959 | 9,528 |
| Total Borrowings | 5,872 | 6,311 | 6,281 | 5,956 |
| Total Revenue | 1,498 | 1,399 | 1,048 | 1,708 |
| Profit After Tax | 257 | (11) | (199) | 207 |
IPO details
| Issue Type | Book built issue IPO |
| IPO Price | ₹ 95 to ₹ 100 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 150 Shares |
| Issue Size | [.] shares (aggregating up to ₹ 3,200 crores) |
| Fresh Issue | [.] shares (aggregating up to ₹ 1,400 crores) |
| Offer for Sale | [.] shares of ₹ 10 each (aggregating up to ₹ 1,800 crores) |
| QIB Shares Offered | Not more than 75% of the Net offer |
| NII (HNI) Shares Offered | Not less than 25% of the Offer |
| Listing At | NSE, BSE |
GMP: Nexus Select Trust REIT IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Nexus Select Trust REIT IPO
The issue opens for subscription on May 9, 2023, and closes for subscription on May 11, 2023 (both days inclusive). The basis of allotment will be finalised on May 16th, 2023, and the refunds will be initiated on May 17, 2023. In addition, the demat credits are expected to happen on May 18th, 2023, and the stock will list on May 19, 2023, on the NSE and BSE. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | May 9, 2023 |
| Closing Date | May 11, 2023 |
| Basis of Allotment | May 16, 2023 |
| Initiation of Refunds | May 17, 2023 |
| A credit of shares to Demat A/c | May 18, 2023 |
| Listing Date | May 19, 2023 |
Lot Size
The lot size of the Nexus Select Trust IPO is 150 shares. A retail-individual investor can apply for up to 1 lot, i.e. 150 shares of ₹ 15,000.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| All investors | 1 | 150 | ₹ 15,000 |
SWOT Analysis
| STRENGTHS | WEAKNESSES |
|---|---|
| 1. India’s largest platform of best-in-class assets, with a presence in 14 of India’s key consumption cities. 2. highly occupied by a diversified tenant base of renowned national and international brands; 3. Strong embedded growth with inflation-hedged cash flows; 4. Strategically located in prime infill locations with high barriers to entry; 5. a renowned sponsor with global expertise and local knowledge; 6. Long-term ESG commitment. | 1. A significant portion of company revenues is derived from a limited number of large tenants. 2. Tenant leases across the company Portfolio are subject to the risk of non-renewal, non-replacement, default, early termination, regulatory or legal proceedings or changes in applicable laws or regulations. |
| OPPORTUNITIES | THREATS |
| 1. Broaden our geographical reach. 2. Increasing urbanisation. 3. Grow tenants’ loyalty/retention. 4. Demand for high-quality retail space in India remains robust with international and domestic brands. | 1. A decline in footfalls in its urban consumption centres has in the past, and may in the future adversely affect company revenue. 2. Legal and Regulatory Restrictions. 3. E-commerce business. |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Nexus Select Trust Embassy 247, Unit No. 501, B Wing, Lal Bahadur Shastri Marg, Vikhroli West, Mumbai 400 083 Phone: +91 22 6280 5000 Email: [email protected] Website: https://www.nexusselecttrust.com/ |
| IPO Registrar | Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: [email protected] Website: https://karisma.kfintech.com/ |
| IPO Lead Manager(s) | 1. BOFA Securities India Limited 2. Axis Capital Limited 3. Citigroup Global Markets India Private Limited 4. HSBC Securities & Capital Markets Pvt Ltd 5. IIFL Securities Ltd 6. JM Financial Limited 7. J.P. Morgan India Private Limited 8. Kotak Mahindra Capital Company Limited 9. Morgan Stanley India Company Pvt Ltd 10. SBI Capital Markets Limited |
FAQ’s
When will Nexus Select Trust REIT IPO allotment be available?
The finalisation of the basis of allotment for the Nexus Select Trust REIT IPO will be done on May 16, 2023, and the allotted shares will be credited to your demat account by May 18, 2023. Check the Nexus Select Trust REIT IPO allotment status.
When will Nexus Select Trust REIT IPO list on exchanges?
The Nexus Select Trust REIT IPO shares listing date is May 19, 2023.
How many Nexus Select Trust REIT IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 75% of the Net offers and NII is Not less than 25.00% of the Offer
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