What you need to know before investing in Nexus Select IPO

Are you ready for India's first retail REIT IPO? Discover the essential things about Nexus Select Trust REIT before it opens for subscription! Read the article ahead to know more.

Nexus Select IPO
  • The issue opens on May 9 and closes on May 11, 2023
  • Issue price band: Rs 95 to Rs 100
  • ​The IPO will be listed on NSE and BSE

India's first retail REIT IPO is finally here! Nexus Select Trust REIT is set to open for subscription on May 9, 2023. It is a landmark event for the Indian real estate market, as it will be the first time that investors can invest in a professionally managed and listed Real Estate Investment Trust (REIT) focused on retail assets. This article covers all the essentials you need to know. So, if you are interested in investing in India's first retail REIT IPO, then be sure to read this article before you make your investment decision.

Blackstone-backed Nexus Select Trust, which owns India's largest mall assets, is launching a real estate investment trust issue to raise Rs 3,200 crore. The trust has a presence in 14 Indian cities and has launched India's first retail REIT IPO, which opened today. The issue has received shares from 20 anchor investors, with the anchor book accounting for over 45% of the total IPO. 

Also Read: IPO Valuation: How Is The IPO Price Decided?

  • Bidding dates: The IPO opens on May 9 and closes on May 11, 2023
     
  • Issue price band: Rs 95 to Rs 100
     
  • Size of the issue: The IPO is valued at Rs 3,200 crores and comprises a fresh issuance of shares worth Rs 1,400 crores and an offer to sell shares worth Rs 1,800 crores.
     
  • Minimum investment: One lot of 150 shares costs Rs15,000.
     
  • Allotment date: May 16, 2023
     
  • Listing date of IPO: May 19, 2023
     
  • Listings on Stock Exchanges: The IPO will be listed on NSE and BSE
     
  • Reservations in Nexus Select Trust REIT IPO: 75% and 25% offer for QIB and NII, respectively.
     
  • Registrar for the issue: Kfin Technologies Limited
     
  • Lead managers for the issue: BofA Securities India, HSBC Securities & Capital Markets, Citigroup Global Markets India Pvt Ltd, IIFL Securities, Axis Capital Ltd, Kotak Mahindra Capital Co, JM Financial Ltd, JP Morgan India Pvt Ltd, Morgan Stanley India Co, and SBI Capital Markets.
     
  • Current GMP of Nexus Select IPO: As per the latest GMP, the estimated listing premium is now at 5%. Thus, the expected listing price for Nexus REIT IPO considering an upper price bank of 100, Rs 105.

The company's net loss decreased to Rs 10.9 crore in FY2022, and revenue increased to Rs 1,318 crore. Total income for Q1-Q3 2022-23 was Rs 1,498.35 crore, predicting 17% net income growth by 2025-26.

Also Read: NSE's game-changing index: All you wanted to know about REITs & InvITs Index

Conclusion:

Most of the brokerage firms have suggested subscribing to the issue. But it would be best if you do your due diligence before taking any decision.

  • The issue opens on May 9 and closes on May 11, 2023
  • Issue price band: Rs 95 to Rs 100
  • ​The IPO will be listed on NSE and BSE

India's first retail REIT IPO is finally here! Nexus Select Trust REIT is set to open for subscription on May 9, 2023. It is a landmark event for the Indian real estate market, as it will be the first time that investors can invest in a professionally managed and listed Real Estate Investment Trust (REIT) focused on retail assets. This article covers all the essentials you need to know. So, if you are interested in investing in India's first retail REIT IPO, then be sure to read this article before you make your investment decision.

Blackstone-backed Nexus Select Trust, which owns India's largest mall assets, is launching a real estate investment trust issue to raise Rs 3,200 crore. The trust has a presence in 14 Indian cities and has launched India's first retail REIT IPO, which opened today. The issue has received shares from 20 anchor investors, with the anchor book accounting for over 45% of the total IPO. 

Also Read: IPO Valuation: How Is The IPO Price Decided?

  • Bidding dates: The IPO opens on May 9 and closes on May 11, 2023
     
  • Issue price band: Rs 95 to Rs 100
     
  • Size of the issue: The IPO is valued at Rs 3,200 crores and comprises a fresh issuance of shares worth Rs 1,400 crores and an offer to sell shares worth Rs 1,800 crores.
     
  • Minimum investment: One lot of 150 shares costs Rs15,000.
     
  • Allotment date: May 16, 2023
     
  • Listing date of IPO: May 19, 2023
     
  • Listings on Stock Exchanges: The IPO will be listed on NSE and BSE
     
  • Reservations in Nexus Select Trust REIT IPO: 75% and 25% offer for QIB and NII, respectively.
     
  • Registrar for the issue: Kfin Technologies Limited
     
  • Lead managers for the issue: BofA Securities India, HSBC Securities & Capital Markets, Citigroup Global Markets India Pvt Ltd, IIFL Securities, Axis Capital Ltd, Kotak Mahindra Capital Co, JM Financial Ltd, JP Morgan India Pvt Ltd, Morgan Stanley India Co, and SBI Capital Markets.
     
  • Current GMP of Nexus Select IPO: As per the latest GMP, the estimated listing premium is now at 5%. Thus, the expected listing price for Nexus REIT IPO considering an upper price bank of 100, Rs 105.

The company's net loss decreased to Rs 10.9 crore in FY2022, and revenue increased to Rs 1,318 crore. Total income for Q1-Q3 2022-23 was Rs 1,498.35 crore, predicting 17% net income growth by 2025-26.

Also Read: NSE's game-changing index: All you wanted to know about REITs & InvITs Index

Conclusion:

Most of the brokerage firms have suggested subscribing to the issue. But it would be best if you do your due diligence before taking any decision.

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