Nexus Select Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Nexus Select Trust's Borrowing Committee approved the allotment of 4,500 listed, rated, redeemable commercial papers (CPs) with a face value of INR 5,00,000 each, aggregating to INR 225 crores. The issuance is split into two tranches of INR 150 crores (3,000 CPs) and INR 75 crores (1,500 CPs), both with a 90-day tenor maturing on March 3, 2026. The CPs carry a discount rate of 6.08% per annum and were issued on a private placement basis in dematerialised form. The CPs will be listed on the wholesale debt market segment of BSE.
This is a short-term debt-raising exercise to meet routine funding needs, carrying a modest 6.08% annualized cost. It is unlikely to have a meaningful impact on the unit price but adds to the trust's short-term liabilities.