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 7,000 listed, rated, redeemable commercial papers on May 9, 2025. Each CP has a face value of INR 5,00,000, totalling an aggregate principal of INR 3,500 million. The CPs carry a discount rate of 6.67% per annum and have a short tenure of 91 days, maturing on August 8, 2025. They were issued on a private placement basis and will be listed on the wholesale debt market segment of BSE. This is part of the trust's previously communicated plan to issue CPs up to INR 6,000 million in aggregate.
This is a routine short-term borrowing by the trust to meet working capital or short-term funding needs. The 6.67% rate reflects current market rates and is unlikely to have a material impact on unit price, though it indicates continued reliance on market-based short-term debt.