The IPO of Nexus Select Trust finally got listed on the stock market. The stock reached its all-time high of Rs 104 on the BSE as soon as it was listed. Earlier, the company’s IPO was subscribed more than 5 times.
The IPO of Nexus Select Trust, the country’s first retail-oriented REIT, got listed on BSE and NSE today. The shares of the company got listed at a significant premium in a special pre-open session (SPOS) on BSE and NSE.
On BSE, Nexus Select Trust’s share price opened at Rs 102.27 per share and soon rose to a high of Rs 104.90 per share. On the NSE, the shares of the company started at Rs 103 per share and also fetched a 3 percent listing premium to the lucky allottees.
over 5 times subscription
The IPO offered a fresh issue of units up to Rs 1,400 crore and an offer for the sale of units up to Rs 1,800 crore, with a price range of Rs 95-100. According to NSE, the company received Rs 3200 crore from the IPO. IPO offers included fresh issue and offer for the sale of units up to Rs 1,800 crore. The company had fixed a price band of Rs 95 to Rs 100 for the IPO.
Received so much money from anchor subscription
The company received Rs 1,440 crore from its anchor investors, including HDFC MF, IIFL AMC, ICICI Pru MF, SBI MF, HDFC Life Insurance, SBI Life, and Star Health. Prusik, Morgan Stanley, and Tata Investment Corp are major anchor investors.
Nexus Select Trust is the country’s first retail-focused REIT.REIT is a company with 17 malls, offices, and two hotels spread across 14 cities.
As on December 31, 2022, the company had a market value of Rs 21,146.6 crore. For the nine months to December 31, 2022, Nexus Select Trust reported a net profit of Rs 257 crore on revenue of Rs 1,463 crore.
