Blackstone-backed Nexus files for $500 million IPO 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.
The REIT, a popular instrument globally, was introduced in India a few years ago to attract investment in the real estate sector by monetising rent-yielding assets.
Nexus Select Trust will be the first REIT with rent-yielding retail real estate assets.
On operational front, the occupancy level in the malls currently stands at 94 per cent with annual footfall of over 130 million, they said.
The board of directors is highly diversified and experienced.
India's first REIT of Rs 4,750 crore issue size was listed in April 2019 by Embassy Office Parks, sponsored by Blackstone and realty firm Embassy Group.
Source: NDTV
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