Nexus Select Trust

Nexus Select Trust is India's first publicly listed retail real estate investment trust, sponsored by Blackstone (through Wynford Investments Limited) and managed by Nexus Select Mall Management Private Limited, with Axis Trustee Services Limited acting as trustee. The trust holds a portfolio of Grade A urban consumption centres (shopping malls) spread across multiple large Indian cities, together with a small number of complementary hotel and office assets attached to some of its mall campuses. At the time of its public offer, the portfolio comprised 17 Grade A consumption centres across 14 cities with roughly 9.8 million square feet of leasable retail area, alongside two hotel assets totaling 354 keys and three office assets of about 1.3 million square feet. The trust's malls host a large and diversified base of domestic and international retail brands, giving it a broad tenant mix across categories such as fashion, food and beverage, entertainment and lifestyle. The trust listed on the NSE and BSE on 19 May 2023 following a combined fresh issue and offer for sale of units worth about Rs 3,200 crore. As a REIT, its income is derived primarily from rental and other property-related receipts across its consumption centre portfolio, with the fresh issue proceeds used mainly to reduce borrowings and fund further stake acquisitions within its asset-owning entities.

Ahead of the offer, a portion of the institutional quota was placed with anchor investors including Morgan Stanley Asia, Segantii India, and domestic institutions such as HDFC Life Insurance, ICICI Prudential, SBI Life Insurance, Star Health, and Tata Investment Corporation.