Project 59

Project 59

Published on 8 May 2023
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Transcript
00:00
Nexus Select Trust, a real estate investment trust, has raised Rs 1,440 crores from anchor investors ahead of its Rs 3,200 crore IPO on May 9.
00:13
Anchor investors bought over 4 crore units of the trust at Rs 355 per unit.
00:19
The company is planning to use the money raised for repayment and prepayment of loans.
00:25
The company also plans to acquire new assets and other general purposes.
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Nexus Select Trust is the first REIT IPO this year, and the third overall.
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The company was established in 2019 and has a portfolio of four commercial office assets in Mumbai.
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The trust has a total lease area of 1.
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3 million square feet and an occupancy rate of 92%.
00:51
The REIT IPO is one of the biggest in the country and is expected to attract significant investor interest.
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Over 50% of the units offered are allocated to qualified institutional buyers.
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Individual investors and others can invest a minimum of Rs 10,000 in the IPO.
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Nexus Select Trust plans to offer a yield of 7.
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5% on the units.
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The IPO is expected to close on May 11.