Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
Nexus Select Mall Management (NSMMPL), the Trust's manager, recently obtained approval from its board of directors to raise debt amounting to a total principal sum of up to Rs. 2,350 Crores. This debt will be utilized for various purposes permitted by applicable laws, including refinancing debt accessed by one or more Special Purpose Vehicles (SPVs) of the Trust, as well as for general corporate purposes. The funds will be raised through a term loan with a maximum principal amount of Rs. 1,250 Crores, payable in one or more tranches. Additionally, non-convertible debentures up to a total principal sum of Rs. 1,100 Crores may be issued in a single transaction, series, or tranche.
The subscription for the debt raised by Nexus Select Mall Management was a remarkable success, with the offering being subscribed to 5.45 times on the last day of subscription, Thursday. An update from the National Stock Exchange (NSE) revealed that bids were received for 101.03 crore units, amounting to Rs. 3,200 Crores, whereas only 18.52 crore units were initially offered. The company's impressive portfolio comprises 17 active shopping centres spread across 14 major cities, encompassing a total area of 9.8 million square feet. In addition, it operates two hotels with 354 rooms each and offers office space in a mixed-use complex.
Nexus Select Trust has earned a strong reputation as a renowned financial institution in the investment industry. The company is highly regarded for its unwavering commitment to excellence and its ability to provide exceptional financial solutions. Its core strength lies in curating a diverse range of investment options across various asset classes, such as equities, fixed income, and alternative investments. By conducting meticulous research, rigorous analysis, and staying attuned to market trends, Nexus Select Trust aims to deliver tailored investment strategies that align with the unique goals and risk appetite of its clients.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
