Nexus Select Trust IPO received 5.7x subscriptions.
The Blackstone Group-backed Nexus Select Trust’s ₹3,200-crore IPO for India’s maiden retail assets-led Real Estate Investment Trust (REIT) has closed with a total subscription of 5.74 times.
The issue received over 155,000 applications and the institutional investor portion was subscribed 5.06 times while the other investor portion witnessed 6.55 times subscription at the upper end of the price band of ₹95-100 per unit. “This is an outstanding response in an extremely volatile market. Nexus REIT was the second-largest IPO in the last 12 months. This speaks about the strength of the Nexus platform and increasing acceptance of yield products in the country,” said Chirag Negandhi, Co-CEO and joint MD, Axis Capital.
