IPO

Issue Snapshot: Issue Open: May 09 May 11, 2023 Price Band: Rs. 95 100 Issue Size: 3200 cr (Fresh Issue of Rs. 1,400 cr and Offer for Sale of Rs. 1,800 cr) Reservation for: Institutional Investors: up to 75% of the net offer Non-Institutional: at least 25% of the net offer Face Value: NA Bid Size: 150 units and in multiples thereof 100% Book built Issue IPO Note -Nexus Select Trust REIT 09052023

IPO note

The Offer comprises of a fresh issue and an Offer for Sale. The fresh issue is of ?14,000 million out of which ?2,500 million would be used for partial or full repayment or prepayment and redemption of certain financial loans of the Asset SPVs and the Investment Entity; ?12,500 million would be used for acquisition of stake and redemption of debt securities in certain Asset SPVs; and the balance would be used for General corporate purposes.

Nexus Select Trust’s portfolio is located in India, the fifth-largest economy in terms of nominal gross domestic product (GDP), the third-largest economy in terms of purchasing power parity (PPP), and the second-most populous country in the world as of June 30, 2022.

Nexus Select Trust REIT (“Nexus REIT”) is the owner of India’s leading consumption center platform of high-quality assets that serve as essential consumption infrastructure for India’s growing middle class.

The IPO is priced conservatively at a 22% discount to the Net Asset Value (NAV) of the units. Post-IPO, the equity value of the trust will be Rs. 1,51,500 mn. and NAV per unit in relation to the offer price shall be 0.78 at the upper price band.

Well-positioned for strong organic growth through a combination of contractual rent escalations, increased tenant sales leading to higher turnover rentals, re-leasing at higher market rents & lease-up of vacant area.