Nexus Select Trust wants to raise $ 500 million (about Rs 4050 crore) from the Indian stock market through IPO. The company plans to launch an IPO in early 2023. For this, the company has submitted draft papers.
Nexus Select Trust, a firm backed by global investment firm Blackstone, is preparing to launch an IPO in the Indian stock market. This will be a retail REIT and through this, the company wants to raise $ 500 million (about Rs 4050 crore). Nexus Select Trust has 17 shopping malls in 14 major cities of India, its valuation is $ 3 billion (about Rs 24,400 crore).
Sources said that Nexus Select Trust submitted the draft papers for the IPO on Thursday. The company wants to bring the IPO to the stock market in early 2023. If the company’s IPO hits the stock market, then it will be the third REIT backed by Blackstone in India. Earlier IPOs of Embassy Office Park REIT and Mindspace Business Park REIT have come.
What are REITs?
REITs are a popular investment option globally. The objective is to invest in the real estate sector. Through this, retail investors can invest in large real estate projects. It has become popular in India after Corona. Presently Brookfield India Real Estate Trust, Embassy Office Park REIT, and Mindspace Business Park REIT are the listed REITs in the stock market in India.
