Nexus Select Trust has informed the Exchange regarding Full Valuation report subsequent to material development FY ended 2025-26
Awaiting price reaction for this filing.
Nexus Select Trust's board has approved acquiring approximately 60,000 sq.ft. of Gross Leasable Area on the ground and first floor of a building adjacent to its Nexus Elante Mall in Chandigarh, through its SPV CSJ Infrastructure Private Limited. The acquisition is aimed at activating the high street frontage, monetising an underutilised courtyard zone, and strengthening the mall's retail positioning and capital value. The deal is not a related party transaction, and the cash consideration is yet to be agreed, with closure expected by December 15, 2025. The board also approved raising up to INR 700 Crores through listed, secured, redeemable non-convertible debentures (NCDs) and up to INR 225 Crores through commercial papers, taking the total potential debt raise to INR 925 Crores. An independent valuation report from iVAS Partners was taken on record.
The acquisition is expected to enhance rental income and capital value of the Elante Mall asset, but the INR 925 Crore debt raise could increase leverage and interest costs for unitholders. Investors should watch for the final acquisition cost and debt terms once the transaction closes by December 15, 2025.