Nexus Select Trust REIT is a platform of various assets that serve as consumption infrastructure for India’s population. The portfolio comprises of 17 grade-A urban consumption centers with a total leasable area of 9.2 msf, two complementary hotel assets (354 keys) and three office assets (1.3 msf) as of December 31, 2022.
| Bidding Dates |
|---|
| 09 May 2023 - 11 May 2023 |
| Subscription |
|---|
| 3x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹15,000 | 1 | - | 150 | 336.8 M | ₹95 - ₹100 | - | ₹32000.0 M - ₹33684.2 M | RHP DOC |
Nexus Select Trust IPO SUBSCRIPTION STATUS
11 May '23Nexus Select Trust IPO overall subscription rate was 3 times the total available shares
Nexus Select Trust IPO non-institutional investor subscription rate was 6.23 times in the non-institutional investor category
Nexus Select Trust IPO Qualified Institutional Bidder subscription rate was 1.92 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | - | 25% | 75% |
11 May 2023 (Day 3) | - | 6.23x | 1.92x |
10 May 2023 (Day 2) | - | 1.05x | 0.07x |
09 May 2023 (Day 1) | - | 0.4x | 0.06x |
Nexus Select Trust FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| 9MFY23 | 2,570.2 | 14,631.5 | 8,910.8 | 7,980.4 |
| FY22 | -109.5 | 13,182.1 | 7,474.8 | 6,217.2 |
| FY21 | -1,991.1 | 9,069.8 | 4,132.7 | 2,738.5 |
| FY20 | 2,067.4 | 16,219.8 | 9,106.2 | 3,027.6 |
Nexus Select Trust IPO SUBSCRIPTION STATUS DETAILS
Nexus Select Trust had 336.8 M shares on offer
Nexus Select Trust IPO offer price was in the range ₹95 - ₹100
Nexus Select Trust IPO minimum Investment was ₹15000
Nexus Select Trust IPO issue size was ₹ 32000.0 M - ₹ 33684.2 M
Nexus Select Trust had a minimum lot size of 150 Shares per application
Nexus Select Trust NUMBER OF SHARES ON OFFER
Nexus Select Trust IPO IMPORTANT DATES
| Issue Open Date | 09 May 2023 |
| Issue close Date | 11 May 2023 |
| Allotment Date | 16 May 2023 |
| Refund Date | 17 May 2023 |
| Demat Account Credit Date | 18 May 2023 |
| Listing Date | 19 May 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Nexus Select Trust Allotment Status | Exchange |
Nexus Select Trust IPO subscription opened on 09 May 2023, and closed on 11 May 2023
IPO allotment for Nexus Select Trust was finalized on Tuesday, 16 May 2023
IPO listing for Nexus Select Trust was on NSE and BSE on Friday, 19 May 2023
Nexus Select Trust IPO LISTING GAINS
| Issue Price (adjusted) | 100.0 |
| Listing Open Price | 103.0 |
| Listing Close Price | 104.3 |
| Listing Gain% | 3.0% |
| Current Gain% | 68.1% |
Nexus Select Trust Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nexus Select Trust REIT | 168.1 | 55 | -2 | 10.8 | 3.4 | 2.3 | 2399.4 | 20.1 | 482.8 | -19.3 | 3.1 | -28.2 | |
| Knowledge Realty Trust | 117.3 | 52024.4 | 10.5 | 0.9 | 4146.9 | 15.6 | 222.5 | -34.5 | |||||
| Altius Telecom Infrastructure Trust | 171.5 | 44641.4 | 5.6 | 1.1 | 19623.7 | 47 | 839.9 | -25 | |||||
| Embassy Office Parks REIT | 441.3 | 41828.7 | 1.6 | 0.7 | 4675.8 | 11.8 | 338.5 | -79.2 | |||||
| Bagmane Prime Office REIT | 107.4 | 36509.2 | 56.5 | 12.4 | 2390.9 | 6.9 | 896.5 | 10.8 | |||||
| National Highways Infra Trust | 164 | 31764.3 | 2.9 | 1.3 | 4322.2 | 78.9 | 685.5 | 110.9 |
Nexus Select Trust IPO Reports
Nexus Select Trust INFORMATION ON IPO ISSUE
About Nexus Select Trust
Nexus Select Trust REIT is a platform of various assets that serve as consumption infrastructure for India’s population. The portfolio comprises of 17 grade-A urban consumption centers with a total leasable area of 9.2 msf, two complementary hotel assets (354 keys) and three office assets (1.3 msf) as of December 31, 2022.
Object of the Issue
- 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
- General purposes
Nexus Select Trust Book Running Lead Manager
BofA Securities India Limited
dg.nexus_select_trust_ipo@bofa.com
Axis Capital Limited
nexusselecttrust.ipo@axiscap.in
Citigroup Global Markets India Private Limited
nexusselecttrust.ipo@citi.com
HSBC Securities and Capital Markets (India) Private Limited
nexusmallsipo@hsbc.co.in
IIFL Securities Limited
nexus.reit@iiflcap.com
JM Financial Limited
nexus.trust@jmfl.com
J.P. Morgan India Private Limited
nexus_IPO@jpmorgan.com
Kotak Mahindra Capital Company Limited
nexusselecttrust@kotak.com
Morgan Stanley India Company Private Limited
nexuselectrustipo@morganstanley.com
SBI Capital Markets Limited
nexusselecttrust@sbicaps.com
Nexus Select Trust Registrar to the Offer
KFinTechnologies Private Limited
nexusselecttrust.ipo@kfintech.com
Nexus Select Trust Strengths
Largest platform
The REIT is India’s largest platform of best-in-class assets, with a presence in 14 of India’s key consumption cities
Diversified and high-quality tenant base
The REIT has a diversified and high-quality tenant base, consisting of 1,044 retail tenants across 2,893 stores as of December 31, 2022. The tenant base includes a mix of leading international brands
Strong embedded growth
The REIT is well-positioned for strong organic growth through a combination of contractual rent escalations, increased tenant sales leading to higher turnover rentals and re-leasing at higher market rents and lease-up of vacant area
Nexus Select Trust Risks
Risk of low occupancy
The REIT's revenues, results of operations, cash flows, and financial condition may be adversely affected by low occupancy and rent levels of the urban consumption centres, hotels, and commercial office spaces, as well as changes in accounting estimates
Limited operating history
The Nexus Select Trust has a limited operating history, which raises the risk that it may not be able to successfully operate the business, achieve its business objectives, or generate sufficient cash flows to make or sustain distributions
Dependent on real estate market
If the Indian real estate market weakens, the business, financial condition, results of operations and cash flows may be adversely affected
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,800.0 crore, of 189,473,597 shares. It also consists of a fresh issue of Rs 1,400.0 crore.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 25.0% and for retail investors it is 0.0%.
The price band of the IPO is Rs 95.0 - 100.0.
The IPO application opens on May 09, 2023 and closes on May 11, 2023.
This IPO will be allotted on May 16, 2023.
The refund will be credited to your account on May 17, 2023.
The allotted shares will be credited to your demat on May 18, 2023.
Nexus Select Trust REIT’s shares listed on the stock exchanges on May 19, 2023.