The IPO of Nexus Select will be India’s first Real Estate Investment Trust (REIT) IPO.
New Delhi:
Nexus Select REIT IPO: Nexus Select Trus, sponsored by global investment firm Blackstone, is going to launch an Initial Public Offering (IPO) of one of its real estate investment trusts (REIT) on May 9. Through this upcoming IPO (Upcoming IPO In May 2023), the company plans to raise up to Rs 3,200 crore. This will be India’s first REIT IPO backed by rent yielding retail real estate real estate assets. Currently there are three listed REITs on the stock exchange, but all of them are backed by office assets.
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Nexus Select Trust has submitted documents to market regulator SEBI for its IPO (Nexus Select Trust IPO). Accordingly, the size of this public issue is Rs 3,200 crore, which includes fresh issue of units up to Rs 1,400 crore, offer-for-sale ie OFS of Rs 1,800 crore.
Earlier, Nexus Select IPO had planned to raise up to Rs 4,000 crore from its proposed REIT public issue. In November last year, Nexus Select Trust filed a Draft Red Herring Prospectus (DRHP) with SEBI to launch its retail REIT public issue (Nexus Select REIT IPO).
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