On May 9th, 2023, the subscription to Nexus Select Trust’s REIT IPO opened, presenting a new opportunity for investors to invest in the stock market.
This is India’s first Real Estate Investment Trust (REIT) IPO, and the company aims to raise Rs 3,200 crore through its Retail REIT IPO.
Anchor Investors Raise Rs 1,440 crore
The application for anchor investors in Nexus Select Trust opened on May 8th, and the company has already raised Rs 1,440 crore.
The general public and other investors can bid on this IPO from May 9th until May 11th.
The per unit price band has been set at Rs 95 to Rs 100, and investors will have to bid at least 1500 units, which translates to a minimum investment of Rs 15,000.
Lead Managers
Morgan Stanley, JP Morgan, Kotak Mahindra Capital, Axis Capital, and BoA ML are the booking running lead managers for this IPO.
The size of this IPO includes fresh shares worth Rs 1,400 crore and an offer for sale of Rs 1,800.
GMP
The Nexus Select Trust IPO is trading positively in the gray market, with a premium of Rs 4 to 5 being quoted for one unit. GMP, or Grey Market Premium, is a premium over the IPO price, and in this case, it is five percent.
Company Details
Nexus Select Trust is the largest mall platform in the country, with 17 high-quality assets spread across 14 major cities. Its REIT IPO is backed by retail real estate assets that are let out.
Investors can make the most of this opportunity by investing in this IPO before the deadline on May 11th.
