Nexus Select Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
The board of Nexus Select Mall Management Private Limited (manager to Nexus Select Trust) approved raising ₹7,000 million (₹700 crore) in debt on June 19, 2025. The funds will be raised either through listed, rated, redeemable commercial papers (CPs) with a maximum tenor of 364 days issued at discount and redeemed at par, or through listed, rated, redeemable non-convertible debentures (NCDs) — with the latter receiving only in-principal approval. Both instruments will be issued on a private placement basis in dematerialised form, in one or more tranches, to eligible investors. The board meeting lasted only 25 minutes, from 10:30 AM to 10:55 AM IST.
This is a new debt raise of ₹700 crore for the REIT, which will add to its existing leverage. Short-term CPs (under 1 year) are typically cheaper but carry refinancing risk, while NCDs would be longer-tenure. Shareholders should watch for any increase in overall debt levels and the cost of borrowing, as this could affect future distribution yields.