Blackstone-backed Nexus files for $500 mn IPO in 1st retail REIT offer

Global investment firm Blackstone-sponsored Nexus Select Trust filed the draft paper with market regulator SEBI on Thursday to launch India's first public issue of retail REIT to raise around USD 500 million, sources said. Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities, covering about 10 million square feet area valued around USD 3 billion. As per the sources, Nexus Select Trust has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and is looking to hit the capital market with India's first retail REIT (Real Estate Investment Trust) public issue in the first half of 2023 calendar year. The size of the initial public offer (IPO) of Nexus Select Trust REIT will be around USD 500 million, they added. This will be the third REIT sponsored by the Blackstone. It had earlier launched India's first REIT -- Embassy Office Parks REIT-- and then Mindspace Business Parks REIT. The REIT, a popular ..

from Markets https://ift.tt/qUP3KNA