Nexus Select Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Nexus Select Trust's board, through its Manager Nexus Select Mall Management Private Limited, approved the proposed acquisition of approximately 60,000 sq.ft. of Gross Leasable Area on the ground and first floor of a building adjacent to Nexus Elante Mall in Chandigarh, to be executed through its SPV, CSJ Infrastructure Private Limited. The acquisition is aimed at activating high-street frontage and strengthening retail positioning at the existing Elante complex. The deal is expected to close on or before December 15, 2025, with the consideration amount to be disclosed at closure. The board also took on record the independent valuation report from iVAS Partners for the property. Additionally, the board approved raising up to INR 700 Crores through listed, secured, redeemable non-convertible debentures and up to INR 225 Crores through commercial papers, in one or more tranches, to fund such growth and other needs.
This is a growth-driven acquisition on an existing successful mall asset, expected to enhance rental income and capital value once integrated. The combined debt raise plan of up to INR 925 Crores signals reliance on borrowings to fund expansion and other obligations, which may increase interest expenses but supports portfolio expansion. The transaction is not a related-party deal, adding to its credibility.