India's leading real estate investment trust Nexus Select is a leading consumption centre platform with 17 Grade-A best-in-class Urban Consumption Centres spread across 14 cities. The IPO will open for subscription from May 9 to May 11.
Nexus Select Trust REIT IPO important dates:
| Open date | May 9, 2023 |
| Close date | May 11, 2023 |
| Basis of allotment date | May 16, 2023 |
| Refunds date | May 17, 2023 |
| Credit to demat account date | May 18, 2023 |
| Listing date | May 19, 2023 |
Issue Size:
The IPO comprises a fresh issue worth Rs 1,400 crore and an offer for sale (OFS) of up to Rs 1,800 crore. The issue size was reduced from an earlier proposal of raising Rs 4,000 crore.
Price Band and lot size:
Nexus Select Trust has fixed the price band at Rs 95-100 per share. Investors can invest in 150 shares in a lot and its multiples thereof.
Objects of the offer:
The company will use net proceeds from the IPO towards partial or full repayment and redemption of the certain financial indebtedness of the asset SPVs and the investment entity. Further, they'll be used for the acquisition of stakes and debt redemption of securities in asset SPVs and other general purposes.
Issue Structure:
About 75% of the IPO is reserved for the institutional investors and 25% of the portion has been reserved for non-institutional investors.
Book-running lead managers:
Morgan Stanley, JPMorgan, Kotak Mahindra Capital, Axis Capital, and BoA ML are the bankers for the proposed public issue.
The shares of the company will list on BSE and NSE.
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