Nexus Select Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Nexus Select Trust has allotted 55,000 Series III non-convertible debentures (NCDs) on a private placement basis, with a face value of INR 1,00,000 each, aggregating to INR 5,500 million (approximately INR 550 crore). The NCDs are listed, rated, secured, transferable, redeemable and rupee-denominated, and are proposed to be listed on BSE (ISIN: INE0NDH07050). The allotment was approved by the Borrowing Committee of the Manager (Nexus Select Mall Management Private Limited) via a resolution by circulation on May 02, 2025. This follows the Trust's earlier intimation dated April 24, 2025, regarding the issuance of NCDs up to the same aggregate amount.
This is a debt raise of INR 550 crore by the REIT, which will increase its outstanding borrowings and add to interest obligations, but does not dilute unit-holders' equity. The funds raised are likely to be used for portfolio expansion, refinancing, or general corporate purposes, though specific use of proceeds is not disclosed in this filing.