
Nexus Select Trust raises ₹1,000 cr via NCDs to refinance bank loans
The Blackstone-backed REIT intends to use debt capital to refinance bank loans at Special Purpose Vehicle level.
The Blackstone-backed REIT intends to use debt capital to refinance bank loans at Special Purpose Vehicle level.
The ₹3,200 crore IPO of India’s first pure-play retail REIT, which opened between May 9-11, was subscribed 5.45 times.
The real estate investment trust to raise ₹3,200 crore via IPO, which comprises fresh issue of up to ₹1,400 crore and an offer for sale of up to ₹1,800 crore.
The price band for Nexus Select Trust REIT, which will be available for subscription till May 11, is expected to be announced this week.
The REIT IPO comprises a primary issue of ₹1,600 crore and a secondary share sale of ₹2,400 crore by Blackstone and some other smaller holders.
"Picture Abhi baaki hai," says Jonathan Gray, president and chief operating officer of Blackstone.
Blackstone has offered to buy a 52% stake in R Systems International for $359 million (₹2,904 crore)
Brick-by-brick, how Blackstone built a 125 milliaon square feet realty portfolio and an enviable PE empire.
Starting in 2005, Blackstone India has made some of the most aggressive bets on India’s real estate sector.
In India there are many factors at play which makes the office critical for companies and employees. That said, Covid-19 has irreversibly changed the way companies and people view the office.