Nexus Select Trust REIT IPO Day 1: Issue subscribed 27%, NIIs bid for 0.4 times their portion

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Key Points

The Nexus Select Trust REIT IPO was subscribed 0.28 times on Day 1...

Nexus Select Trust REIT IPO: Blackstone-backed Nexus Select Trust REITs Rs 3,200 crore IPO opened for subscription on 9 May andthe issue garnered 0.27x bids..

Nexus Select Trust raised Rs 1,440 crore from anchor investors on 8 May as the anchor book opened and closed for subscription in 8 May..

Nexus Select Trust boasts of 17 malls located across 14 cities and according to the RHP, the trusts portfolio constituted 30% of Indias total discretionary retail spending in FY20 and had an average population..

This IPO will be the third REIT sponsored by Blackstone, which launched Indias first REIT, Embassy Office Parks, and then the Mindspace Business Parks REIT.However, while these REITs are focussed on office spaces, Nexus Select Trust will be Indias first listed rent-yielding retail REIT...

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