THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY. THIS IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE. PURCHASE OR SUBSCRIBE FOR UNITS OR SECURITIES. NOT FOR RELEASE. PUBLICATION OR SECURITIES NOT FOR RELEASE. PUBLICATION OR DISTRIBUTION. DIRECTLY OR INDIRECTLY OUTSIDE INDIA.
|
Nexus Select Trust |
(Registered in the Republic of India as contributory, determinate and irrevocable trust on August 10,2022 at Mumbai, Maharashtra India under the Indian Trusts Act, 1882 and asa real estate investment trust on September 15,2022 under the Securities and Exchange Beard of India (Real Estate Investment Trusts) Regulations, 2014. as amended, having registration number IN/REIT/22-23/0004 |
Principal Place of Business: Embassy 247, Unit No. 501, B Wing. Lai Bahadur Shastn Marg, Vikhroti West. Mumbai 400 083, Maharashtra, India Tel: +91 22 6280 5000 Fax: NA; Compliance Officer: Charu Patki; |
E-mail: investor relations@nexusmate.com; Website: www.nexusselecttrust.com |
The Units of Nexus Select Trust are proposed to the listed on National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE") and the trading will commence on May 19,2023. Initial public offering of 320,000,000 Units for cash at a price of Rs. 100 per Unit aggregating to f 32,000.00 million by Nexus Select Trust comprising of a fresh issuance of 140,000,000 Units aggregating to Rs. 14,000.00 million (the "Fresh Issue") and an offer for sale of 180,000,000 Units by the Selling Unitholders aggregating to 118,000.00 million (the "Offer for Sale" and together with the Fresh Issue, the "Offer"). The Offer constitutes 21.12% of the issued and paid-up Units on a post-Offer basis in accordance with Regulation 14(2A) of the REIT Regulations.
OFFER PRICE: 1100 PER UNIT |
ANCHOR INVESTOR OFFER PRICE: Rs. 100 PER UNIT |
Risks to Investors:
1. |
The Nexus Select Trust does not provide any assurance or guarantee of any distributions to the Unitholders. The Nexus Select Trust may not be able to make distributions to Unitholders in the manner described in the Final Offer Document or at all, and the level of distributions may decrease. |
2. |
The Nexus Select Trust has a limited operating history and may not be able to operate our business successfully, achieve our business objectives or generate sufficient cash flows to make or sustain distributions. Further, the Condensed Combined Financial Statements are prepared for the Final Offer Document and may not necessarily represent our consolidated financial position, results of operation and cash flows. |
3. |
The Nexus Select Trust does not have any industry peers as on date of the Final Offer Document as there are no listed real estate investment trusts in the retail sector in India.* |
*All existing listed real estate investment trusts in India operate primarily in the commercial office sector. Credit Rating : Nexus Select Trust has been assigned a corporate credit rating of Provisional CRISIL AAA (Stable) by CRISIL and an issuer rating of Provisional [ICRA]AAA (Stable) by ICRA Limited.
BID/OFFER PROGRAM |
BID/OFFER OPENED ON: TUESDAY, MAY 09, 2023 |
BID/OFFER CLOSED ON: THURSDAY, MAY 11, 2023 |
ANCHOR INVESTOR PERIOD WAS: MONDAY, MAY 08, 2023 |
This Offer was made through the Book Building Process and in compliance with the REIT Regulations and the SEBI Guidelines, wherein not more than 75% of the Offer was made available for allocation on a proportionate basis to Institutional Investors. The Manager, in consultation with the Load Managers, allocated up to 60% of the Institutional Investor Portion to Anchor Investors on a discretionary basis in accordance with the REIT Regulations and the SEBI Guidelines. Further, not less than 25% of the Offer was made available for allocation on a proportionate basis to Non- Institutional Investors, in accordance with the REIT Regulations and the SEBI Guidelines, subject to valid Bids being received at or above the Offer Price. Ail Bidders (except Anchor Investors) were required to utilize the Application Supported by Blocked Amount ( "ASBA") process by providing details of their respective ASBA accounts and UPI ID (mease of individual Non-Institutional Investors using theUPI Mechanism Bidding with a Bid Amount of Rs. 0.50 million or less), in which case the corresponding Bid Amounts were required to blocked by the SCSBs or under the UPI Mechanism, as applicable to participate in the Offer. For details, see "Offer Information" or\ page 546 of the final offer document dated May 16,2023 ( Final Offer Document ). The Offer received 81.889 applications for 1,11.84 41,100 Units (prior to technical rejections) resulting in 3.50 times subscription The details of the applications received in the Offer from various categories are as under (before technical rejections):
Sr.No |
Category |
No. of Applications |
No. of Units |
No. of Units reserved |
No. of times Subscribed |
Amount (In Rs. ) |
A |
Non Institutional Investors |
81,792 |
47,91.56,250 |
8,00,00,000 |
5.99 |
47.92,29.60,750.00 |
B |
Institutional Investors (Excluding Anchor Investors) |
77 |
49,52,85,000 |
9,60,00,150 |
5.16 |
4.48,96,47,000.00 |
C |
Anchor Investors |
20 |
14,39.99,850 |
14.39,99.850 |
1.00 |
14.39,99.85,000.00 |
|
TOTAL |
81,889 |
1,11,84,41,100 |
32,00,00,000 |
3.50 |
1,11.81,25.92,750.00 |
Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Offer Closing date as at different Bid prices is as under:
Sr No |
Bid Price |
Bids Quantity |
(%) to Total |
Cumulative Total |
% Cumulative Total |
1 |
95 |
90,73.350 |
0 89 |
90,73,350 |
0 89 |
2 |
96 |
1,83.900 |
0.02 |
92,57,250 |
0.91 |
3 |
97 |
2,92.200 |
0.03 |
95,49,450 |
0.94 |
4 |
98 |
2,65,650 |
0.03 |
98,15,100 |
0.97 |
5 |
99 |
1,53,150 |
0.02 |
99,68,250 |
0 98 |
6 |
100 |
1,00,52,08.350 |
99.02 |
1,01,51,76,600 |
100.00 |
|
TOTAL |
1,01,51,76,600 |
100.00 |
|
|
A |
Allotment of he Non-institutional Investors (after technical rejections) |
The Basis of Allotment to the Non-institutional Investors, who have bid at the Offer Price of Rs. 100 per Unit, was finalized in consultation with the NSE. The Non-Institutional Investor Portion has been subscribed to the extent of 5.9276 times. The total number of Units Allotted in this category is 8.00,00,000 Units to 24,678 successful Non-Institutional Investors. The category-wise details of the Basis of Allotment are as under: (Sample)
Sr. No. |
Category |
No. of Applications Received |
% of Total |
Total No. of Units applied |
% to Total |
No. of Units allotted per applicant |
Ratio |
Total No. of Units allotted |
1 |
150 |
55,907 |
72.24 |
83,86,050 |
1.77 |
150 |
69: 409 |
14,14,800 |
2 |
300 |
6,903 |
8.92 |
20,70,900 |
0.44 |
150 |
28:83 |
3,49,350 |
3 |
450 |
2,274 |
2.94 |
10,23,300 |
0.22 |
150 |
41 : 81 |
1,72,650 |
4 |
600 |
1,300 |
1.68 |
7,80,000 |
0.16 |
150 |
29:43 |
1,31,550 |
5 |
750 |
764 |
0.99 |
5,73,000 |
0.12 |
150 |
59:70 |
96,600 |
6 |
900 |
962 |
1.24 |
8,65,800 |
0.18 |
152 |
1:1 |
1,46,224 |
7 |
1,050 |
896 |
1.16 |
9,40,800 |
0.20 |
177 |
1:1 |
1,58,592 |
8 |
|
|
|
|
|
1 |
29: 224 |
116 |
9 |
1,200 |
305 |
0.39 |
3,66,000 |
008 |
202 |
1 : 1 |
61,610 |
10 |
|
|
|
|
|
1 |
136: 305 |
136 |
11 |
1,350 |
117 |
0.15 |
1,57,950 |
0.03 |
228 |
1:1 |
26,676 |
12 |
21,00,000 |
2 |
0.00 |
42,00,000 |
0.89 |
3,54,278 |
1:1 |
7,08,556 |
13 |
22,50,000 |
1 |
000 |
22,50,000 |
047 |
3,79,583 |
1:1 |
3,79,583 |
14 |
24,99,900 |
6 |
001 |
1,49,99,400 |
3.16 |
4,21,742 |
1:1 |
25,30,452 |
15 |
25,00,950 |
1 |
0.00 |
25,00,950 |
0.53 |
4,21,919 |
1:1 |
4,21,919 |
16 |
25,99,950 |
1 |
0.00 |
25,99,950 |
0.55 |
4,38,621 |
1:1 |
4,38,621 |
17 |
30,00,000 |
2 |
0.00 |
60,00,000 |
1.27 |
5,06,111 |
1: 1 |
10,12,222 |
18 |
31,11,450 |
1 |
0.00 |
31,11,450 |
0.66 |
5,24,913 |
1: 1 |
5,24,913 |
19 |
34,39,950 |
1 |
000 |
34,39,950 |
0.73 |
5,80,332 |
1:1 |
5,80,332 |
20 |
35,00,100 |
1 |
0.00 |
35,00,100 |
0.74 |
5,90,479 |
1 :1 |
5,90,479 |
21 |
49,95,000 |
2 |
0.00 |
99,90,000 |
2.11 |
8,42,675 |
1 :1 |
16,85,350 |
22 |
49,99,950 |
3 |
0 cc |
1,49,99,850 |
3.16 |
8,43,510 |
1 :1 |
25,30,530 |
23 |
54,90,000 |
1 |
0.00 |
54,90,000 |
1.16 |
9,26,183 |
1 :1 |
9,26,183 |
24 |
56,00,100 |
1 |
0.00 |
56,00,100 |
1.18 |
9,44,757 |
1:1 |
9,44,757 |
25 |
79,99,950 |
1 |
0.00 |
79,99,950 |
1.69 |
13,49,620 |
1 :1 |
13,49,620 |
26 |
94,00,050 |
1 |
0.00 |
94,00,050 |
1.98 |
15,85,822 |
1 :1 |
15,85,822 |
27 |
1,24,99,950 |
1 |
0.00 |
1,24,99,950 |
2.64 |
21,08,787 |
1 :1 |
21,08,787 |
28 |
10,00,00,050 |
1 |
0.00 |
10,00,00,050 |
21.09 |
1,68,70,369 |
1 ; 1 |
1,68,70,369 |
1 additional unit has been allocated to Categories 1050,1200 & 2100 in the ratio of29:224,136:305and 167:603
B |
Allotment to Institutional Investors (excluding Anchor Investors) (After Technical Rejections) |
The Basis of Allotment to the Institutional Investors, who have bid at the Offer Price of ? 100 per Unit, was finalized in consultation with the NSE. The Institutional Investor Portion has been subscribed to the extent of 5.0696 times. The total number of Units Allotted in this category is 9,60,00,150 Units to 74 successful Institutional Investors. The category-wise details of the Basis of Allotment are as under:
Sr. No. |
Category |
No. of Applications Received |
% of Total |
Total No. of Units applied |
% to Total |
No. of Units allotted per applicant |
Ratio |
Total No. of Units allotted |
1 |
3,750 |
1 |
1.35 |
3,750 |
0.00 |
740 |
1:1 |
740 |
2 |
4,650 |
1 |
1.35 |
4,650 |
0.00 |
917 |
1 :1 |
917 |
3 |
11,850 |
1 |
1.35 |
11,850 |
0.00 |
2,337 |
1:1 |
2,337 |
4 |
16,050 |
1 |
1.35 |
16,050 |
0.00 |
3,166 |
1 :1 |
3,166 |
5 |
31,350 |
1 |
1.35 |
31,350 |
0.01 |
6,184 |
1 :1 |
6,184 |
6 |
44,850 |
1 |
1.35 |
44,850 |
0.01 |
8,847 |
1 :1 |
8,847 |
7 |
70,050 |
1 |
1,35 |
70,050 |
0.01 |
13,818 |
1 :1 |
13,818 |
8 |
83,250 |
1 |
1.35 |
83,250 |
0.02 |
16,421 |
1 :1 |
16,421 |
9 |
1,65,300 |
1 |
1.35 |
1,65.300 |
0.03 |
32,606 |
1 :1 |
32,606 |
10 |
2,43,300 |
1 |
1.35 |
2,43.300 |
0.05 |
47,992 |
1:1 |
47,992 |
11 |
2,49.900 |
2 |
2 70 |
4,99.800 |
0.10 |
49,294 |
1:1 |
98,588 |
12 |
4,04.550 |
1 |
1.35 |
4,04.550 |
0.08 |
79,799 |
1:1 |
79,799 |
13 |
4,21,950 |
1 |
1.35 |
4,21,950 |
0.09 |
83,232 |
1; 1 |
83,232 |
14 |
4,30.650 |
1 |
1.35 |
4,30.650 |
0.09 |
84,948 |
1:1 |
84,948 |
15 |
5,00.100 |
1 |
1.35 |
5,00.100 |
0.10 |
98,647 |
1:1 |
98,647 |
16 |
5,20,500 |
1 |
1.35 |
5,20,500 |
0 11 |
1,02,671 |
1:1 |
1,02,671 |
17 |
5,62,950 |
1 |
1 35 |
5,62.950 |
0.12 |
1,11,045 |
1 :1 |
1.11,045 |
18 |
6,57.450 |
1 |
1.35 |
6,57,450 |
0.14 |
1.29,685 |
1 ; 1 |
1.29,685 |
19 |
6,33,250 |
1 |
1,35 |
8,33.250 |
0.17 |
1.64,362 |
1 :1 |
1,64,362 |
20 |
9,99.900 |
1 |
1.35 |
9,99,900 |
0.21 |
1,97,235 |
1 ; 1 |
1,97,235 |
21 |
10,00,050 |
1 |
1.35 |
10,00,050 |
0.21 |
1.97,265 |
1 :1 |
1,97,265 |
22 |
11,86.950 |
1 |
1.35 |
11,86.950 |
0.24 |
2.34,131 |
1 :1 |
2.34,131 |
23 |
12,00,000 |
1 |
1.35 |
12,00.000 |
0.25 |
2,36,706 |
1 :1 |
2,36,706 |
24 |
12,22,500 |
1 |
1.35 |
12,22.500 |
0.25 |
2.41,144 |
1 ; 1 |
2.41,144 |
25 |
15.00.000 |
3 |
4.05 |
45,00.000 |
0.92 |
2.95,882 |
1 :1 |
8,87,646 |
26 |
16,40,700 |
1 |
1.35 |
16,40.700 |
0.34 |
3.23,636 |
1 ; 1 |
3.23,636 |
27 |
16,42,200 |
1 |
1 35 |
16,42.200 |
0.34 |
3,23,932 |
1 : 1 |
3,23,932 |
28 |
19,99.800 |
1 |
1.35 |
19,99.800 |
0.41 |
3.94,470 |
1 ; 1 |
3.94,470 |
29 |
19,99.950 |
1 |
1.35 |
19,99.950 |
0.41 |
3.94,500 |
1 ; 1 |
3.94,500 |
30 |
20,00,100 |
1 |
1.35 |
20,00.100 |
0.41 |
3,94,529 |
1 ; 1 |
3.94,529 |
31 |
24,84.750 |
1 |
1.35 |
24,84.750 |
0.51 |
4.90,129 |
1 ; 1 |
4,90,129 |
32 |
24,99,900 |
3 |
4.05 |
74,99,700 |
1.54 |
4,93,117 |
1 : 1 |
14.79,351 |
33 |
28.99.950 |
1 |
1 35 |
28,99.950 |
0.60 |
5.72,029 |
1 :1 |
5.72,029 |
34 |
30,00,000 |
2 |
2.70 |
60,00.000 |
1.23 |
5.91,764 |
1 :1 |
11.83,528 |
35 |
31,99.950 |
1 |
1.35 |
31,99.950 |
0.66 |
6.31,205 |
1 : 1 |
6.31,205 |
36 |
37,12,800 |
1 |
1 35 |
37,12.800 |
0.76 |
7.32,367 |
1 ; 1 |
7.32.367 |
37 |
37,37,550 |
1 |
1.35 |
37,37,550 |
0.77 |
7.37,249 |
1 : 1 |
7.37,249 |
38 |
40,00,030 |
1 |
1.35 |
40,00.050 |
0.82 |
7.89,029 |
1 : 1 |
7.89,029 |
39 |
40,99,200 |
1 |
1.35 |
40,99.200 |
0.84 |
8,08,587 |
1 : 1 |
8,08,587 |
40 |
41,70,000 |
1 |
1.35 |
41,70.000 |
086 |
8,22,552 |
1 ; 1 |
8.22,552 |
41 |
45,00.000 |
1 |
1.35 |
45,00,000 |
0.92 |
8,87,646 |
1 : 1 |
8,87,646 |
42 |
49,50.000 |
2 |
2.70 |
99.00,000 |
2.03 |
9,76,411 |
1 : 1 |
19,52.822 |
43 |
49,99.950 |
3 |
4.05 |
1,49.99,850 |
3.08 |
9.86,264 |
1 : 1 |
29,58.792 |
44 |
54,99.900 |
1 |
1.35 |
54.99,900 |
1.13 |
10.84,881 |
1 : 1 |
10,84.881 |
45 |
60,00.000 |
1 |
1.35 |
60.00,000 |
1.23 |
11,83,528 |
1 : 1 |
11,83,528 |
46 |
65,59,950 |
1 |
1.35 |
65,59,950 |
1.35 |
12,93,981 |
1 : 1 |
12,93,981 |
47 |
67,31,250 |
1 |
1.35 |
67,31,250 |
1.38 |
13,27,771 |
1 : 1 |
13,27,771 |
48 |
67.54,650 |
1 |
1.35 |
67.54,650 |
1.39 |
13,32,387 |
1 : 1 |
13,32,387 |
49 |
74.06,700 |
1 |
1.35 |
74.06,700 |
1.52 |
14.61,006 |
1 : 1 |
14,61.006 |
50 |
75,00,000 |
1 |
1.35 |
75.00,000 |
1.54 |
14,79,410 |
1 : 1 |
14,79.410 |
51 |
75.15,000 |
1 |
1.35 |
75.15,000 |
1.54 |
14,82,369 |
1 : 1 |
14,82,369 |
52 |
82,11,300 |
1 |
1.35 |
82,11,300 |
1.69 |
16,19,718 |
1 : 1 |
16,19.718 |
53 |
90,00,000 |
1 |
1.35 |
90.00,000 |
1.85 |
17,75,292 |
1 : 1 |
17,75,292 |
54 |
98,39,850 |
1 |
1.35 |
98,39,850 |
2.02 |
19,40,957 |
1 : 1 |
19,40,957 |
55 |
98.52,000 |
1 |
1.35 |
98.52,000 |
2.02 |
19,43,353 |
1 : 1 |
19,43,353 |
56 |
1,05.00,000 |
1 |
1.35 |
1,05.00,000 |
2.16 |
20,71,174 |
1 : 1 |
20,71.174 |
57 |
1,33.50,000 |
1 |
1.35 |
1,33.50,000 |
2.74 |
26,33,350 |
1 : 1 |
26,33.350 |
58 |
1,35,00,000 |
1 |
1.35 |
1,35.00,000 |
2.77 |
26,62,939 |
1 : 1 |
26,62,939 |
59 |
1,50,00,000 |
1 |
1.35 |
1,50,00,000 |
3.08 |
29,58,821 |
1 : 1 |
29,58,821 |
60 |
1,99.50,000 |
1 |
1.35 |
1.99,50,000 |
4.10 |
39,35,232 |
1 : 1 |
39,35,232 |
61 |
1,99.99,950 |
2 |
2.70 |
3,99.99,900 |
8.22 |
39,45,084 |
1 : 1 |
78,90,168 |
62 |
2,09.09,250 |
1 |
1.35 |
2,09.09,250 |
4.30 |
41,24,448 |
1 : 1 |
41,24.448 |
63 |
5,99.99,850 |
1 |
1.35 |
5,99.99,850 |
12.33 |
1,18.35,253 |
1 : 1 |
1.18,35.253 |
64 |
10,65,00,000 |
1 |
1.35 |
10,65.00,000 |
21.88 |
2,10,07,627 |
1 : 1 |
2.10,07,627 |
|
TOTAL |
74 |
100.00 |
48,66,81,150 |
100.00 |
|
|
9,60,00,150 |
C |
Allotment to Anchor Investors |
The Nexus Select Trust in consultation with the Lead Managers, has allotted 14.39,99.850 Units to 15 Anchor Investors at the Anchor Investor Offer Price of ? 100 per Unit in accordance with the SEBI REIT Regulations. This represents 60% of the Institutional Investor Portion.
Category |
Fls/Banks |
MF's |
IC’s |
AIF's |
FPIVFIIs |
NBFC |
Others |
Total |
Anchor Investors |
- |
4,79,99,700 |
4,72.92,750 |
1,49,59,950 |
2,77,86,450 |
10,11,000 |
49,50,000 |
14,39,99,850 |
The Board of Directors of the Manager at its meeting held on May 16. 2023. has noted the Basis of Allotment of the Units approved by the Designated Stock Exchange, being NSE and allotted the Units to various successful applicants.The Allotment Advice-cum-Unblocking Intimations and/or notices has been dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks have been issued for unblocking of funds and transfer to Public Offer Account on May 16, 2023 and payment to non-Syndicate brokers have been issued on May 16. 2023. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Units Allotted to the successful Allottees have been credited on May 17, 2023 to their beneficiary accounts subject to validation of the account details with the depositories concerned. The Manager has obtained listing and trading approvals dated May 18,2023 from the NSE and the BSE. The Units will commence trading on May 19, 2023. All capitalized terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Final Offer Document dated May 16.2023.
The details of the Allotment made will be hosted on the website of the Registrar to the Offer. KFin Technologies Limited at www.kfintech.com All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/ sole Bidder. Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Units applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:
|
KFin Technologies Limited |
Selenium. Tower B. Plot No. 31 and 32. Financial District. Nanakramguda. |
Serilingampally. Hyderabad. Rangareddi - 500 032, Telangana, India. |
Tel: +91 40 6716 2222 |
E-mail: nexusselecttrust.ipo@kfintech.com |
Investor grievance e-mail: einward.ris@kfintech.com |
Website: www.kfintech.com |
Contact Person: M Murali Krishna |
SEBI Registration No.: INR000000221 |
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On behalf of Nexus Select Trust |
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Sd/- |
Place: Mumbai |
Charu Patki |
Date: May 18, 2023 |
Compliance Officer
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