Nexus Select Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Nexus Select Trust has completed the acquisition of approximately 60,000 sq. ft. of additional retail space (ground and first floors) within the Nexus Elante Complex in Chandigarh, adjacent to its existing Nexus Elante Mall. The total enterprise value is INR 253.7 Crores, which includes a purchase consideration of INR 230.65 Crores (about 8% below the independent valuation), plus stamp duty, registration, closing costs and planned capital expenditure. The deal was financed through INR 202 Crores of commercial paper issued at a 6.2% coupon, with the balance from existing cash. Post-acquisition, the Trust's loan-to-value ratio stays at around 18%, preserving roughly USD 1 billion of debt headroom for future growth.
This acquisition deepens Nexus Select Trust's dominance in the Chandigarh Tricity retail market by activating an underutilized courtyard area at its flagship asset, supported by strong tenant demand (a waitlist of 30+ brands) and in-place rentals of ~INR 310 per sq. ft. per month. For unit holders, the deal is accretive, strategically sound, and financed cheaply without stressing the balance sheet — likely positive for the stock and future distributions.