Nexus Select Trust REIT lists at 3% premium 

May 19, 2023: Nexus Select Trust REIT was listed on Friday with premium of 3 per cent on the National Stock Exchange. Since 2019, this was the fourth REIT listing on the stock exchanges. 

The opening price on the NSE was Rs 103, while on BSE it listed at Rs 102.27, up over 2 per cent. 

Sankey Prasad, CMD, India, Colliers said, “After the successful listing of three office REITs, the maiden listing of India’s first Retail REIT aims at expanding the investible cosmos for investors. Retail sector has evinced greater investor interest as it continues to emerge stronger from the lows of pandemic. Institutional investments in retail grew over six-fold on an annual basis, with about USD500 million of investment inflows during 2022. REIT in the retail sector will not only institutionalize the segment but allow individual investors to own rent-yielding retail assets, thus allowing bigger & smaller investors to reap benefits of its innate growth potential. Driven by favourable demographics & rising consumption backed by quality supply from established developers, the sector is likely to see more investment traction in the next few years.”

The price band for the offer was Rs 95-100 per unit.

Nexus Select Trust, is a retail assets centric REIT sponsored by Blackstone. 

Advertisement