Nexus Select Trust: Company's share listed in the market, investors got 3 percent listing premium

The IPO of Nexus Select Trust, the country's first retail-oriented REIT, got listed on BSE and NSE today. The shares of the company got listed at a significant premium in a special pre-open session (SPOS) on BSE and NSE.
On BSE, Nexus Select Trust's share price opened at Rs 102.27 per share and soon rose to a high of Rs 104.90 per share. On the NSE, the shares of the company started at Rs 103 per share and also fetched a 3 percent listing premium to the lucky allottees.
The IPO of Nexus Select Trust has been subscribed 5.74 times. Non-institutional investors subscribed 6.6 percent of their portion in the IPO and qualified institutional buyers subscribed 5.06 percent.
According to NSE, the company received Rs 3200 crore from the IPO. The IPO offers included fresh issue of units up to Rs 1,400 crore and offer for sale (OFS) of units up to Rs 1,800 crore. The company had fixed a price band of Rs 95 to Rs 100 for the IPO.
The company received subscriptions up to Rs 1,440 crore from its anchor portion. Anchor investors included HDFC MF, IIFL AMC ICICI Pru MF, SBI MF, HDFC Life Insurance, SBI Life, and Star Health. Other anchor investors included Prusik, Morgan Stanley, and Tata Investment Corp.
Nexus Select Trust is the country's first retail-focused REIT. The full form of REIT is Real Estate Investment Trust. The company has 17 malls spread across 14 cities and 9.2 million square feet. There are also three offices and two hotels.
As on December 31, 2022, the company had a market value of Rs 21,146.6 crore. For the nine months to December 31, 2022, Nexus Select Trust reported a net profit of Rs 257 crore on revenue of Rs 1,463 crore.