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Nexus Select Trust REIT

Nexus Select Trust REIT IPO

  • Status: Closed
  • RHP:
  • ₹ 14,250 / 150 shares

    Minimum Investment

IPO Details

  • Open Date

    09 May 2023

  • Close Date

    11 May 2023

  • IPO Price Range

    ₹ 95 to ₹ 100

  • IPO Size

    ₹ 3200 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    19 May 2023

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IPO Timeline

Nexus Select Trust REIT IPO Subscription Status

Last Updated: 12 May 2023 12:35 AM by 5Paisa

Nexus Select Trust, is India's leading real estate investment trust’s IPO worth ₹3,200.00 Crores opens on 9th May and closes on 11th May. 

The issue consists of a fresh issue of equity shares aggregating to ₹1,400 crores. The price band for the issue is fixed at Rs. 95 to Rs.100 per share.  The lot size is set for 150 shares per lot. The shares will be allotted on the 16th of May and the issue will be listed on the 19th of May on the stock exchanges. 
The book running lead managers to the offer namely, 

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 

Objective of the Nexus Select Trust

The Net Proceeds from the Fresh Issue will be utilised towards the following objects:

●    Partial or full repayment or prepayment and redemption of certain financial indebtedness of the Asset SPVs and the Investment Entity;
●    Acquisition of stake and redemption of debt securities in certain Asset SPVs; and
●    General purposes
 

Nexus Select Trust REIT IPO Video:

Nexus Select Trust is India's leading real estate investment trust. Nexus Select Trust is India's leading consumption centre platform with 17 Grade-A best-in-class Urban Consumption Centres spread across 14 cities.

The company owns 17 Grade A urban consumption centres with a total Leasable Area of 9.8 msf, two complementary hotel assets (354 keys), and three office assets of 1.3 msf as of December 31, 2022.

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Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 1398.52 1047.97 1708.19
EBITDA 857.98 613.06 1077.21
PAT -10.95 -199.11 206.74
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 9089.77 8959.36 9527.26
Share Capital 324.85 248.04 224.63
Total Borrowings 6311.20 6281.38 5955.67
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities 747.47 413.27 910.61
Net cash from / (used in) investing activities 270.68 74.89 1008.1
Net cash flow from / (used in) financing activities 438.17 402.83 106.02
Net increase (decrease) in cash and cash equivalents 38.61 85.33 8.46

Peer Comparison

There are no listed companies in India that engage in a business similar to that of the company. 


Strengths

1. Located in India, one of the world’s fastest-growing consumption-led major economies 
2. India’s largest platform of best-in-class assets with a presence in 14 of India’s key consumption cities 
3. Highly occupied by a diversified tenant base of renowned national and international brands 
4. Strategically located in prime in-fill locations with high barriers to entry 
5. Fully integrated platform with a highly experienced management team 
 

Risks

1. Has a Rs.5,662 crore outstanding debt as of September 2022. Debt repayment may affect operations and cash flow. 
2. The company could be harmed by low occupancy and rent levels.
3. The top ten clients comprise 35.9% of the building's occupied space and 21.6% of its gross rentals.
4. Heavily reliant on the health of the Indian real estate market
5. A track record of net losses. Both FY21 and FY22 saw losses.
 

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FAQs

The price band of the Nexus Select Trust IPO is Rs. 95 to Rs. 100.

The Nexus Select Trust IPO opens on May 9, 2023 and closes on May 11, 2023.

The minimum lot size and investment required for the Nexus Select Trust IPO is 150 shares.

The IPO comprise of a fresh issue of equity shares aggregating to ₹1400 crores.

The allotment date of Nexus Select Trust IPO is 16th May 2023.

The Nexus Select Trust IPO  listing date is 19th May 2023.

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

1.    Partial or full repayment or prepayment and redemption of certain financial indebtedness of the Asset SPVs and the Investment Entity;
2.    Acquisition of stake and redemption of debt securities in certain Asset SPVs; and
3.    General purposes.
 

To apply for the IPO, follow the steps given below

●    Login to your 5paisa account and select the issue in the current IPO section
●    Enter the number of lots and price at which you wish to apply for
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
●    You will receive a mandate notification to block funds in your UPI app
 

 Book running lead managers to the issue are:

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