On May 2, 2025, Nexus Select Trust, through its manager Nexus Select Mall Management Private Limited, officially announced the allotment of ₹5,500 million (₹550 crore) worth of Series III Non-Convertible Debentures (NCDs). This decision was taken through a resolution passed by circulation by the Borrowing Committee of the manager to the Trust.

This corporate action follows the company's earlier communication dated April 24, 2025, regarding the intention to issue NCDs aggregating up to ₹550 crore in one or more tranches. The issuance was structured to occur through private placement, providing institutional and high-net-worth investors with access to a fixed-income instrument backed by the Nexus Select Trust.

The key details of the allotment are as follows:

• Number of NCDs: 55,000

• Face Value: ₹1,00,000 per debenture

• Aggregate Principal Amount: ₹5,500,000,000 (₹550 crore)

• ISIN Number: INE0NDH07050

• Tranche: Series III

• Nature: Listed, Rated, Secured, Transferable, Redeemable, Rupee Denominated

• Listing Venue: BSE Limited

These debentures are being issued based on the Key Information Document dated April 25, 2025, which outlines the detailed terms and conditions for investors and stakeholders. The NCDs will be listed on the Bombay Stock Exchange (BSE), offering visibility and liquidity for potential bondholders in the secondary market.

The resolution was executed via circulation, meaning it was passed without convening a formal meeting, which is a method often used for time-sensitive decisions within committees. This reflects the agility with which the Nexus Select Trust and its manager operate to meet capital requirements and deployment strategies effectively.

Background on Nexus Select Trust

Nexus Select Trust is India’s first publicly listed Retail Real Estate Investment Trust (REIT) focused exclusively on consumption center-backed commercial properties like malls. The Trust owns and operates some of the most prominent malls and retail assets across key urban centers in India.

Managed by Nexus Select Mall Management Private Limited, the Trust leverages its extensive retail experience and asset management expertise to generate income and value for its investors. The issuance of NCDs is a step toward strengthening the trust’s capital structure while diversifying its funding base.

Strategic Purpose of the NCD Issue

The ₹550 crore NCD allotment serves several strategic financial objectives:

• Capital for Expansion or Refinancing: The capital raised will likely be deployed for expansion projects, refinancing of existing loans, or general corporate purposes.

• Debt Optimization: Issuing listed and rated NCDs allows the Trust to optimize its debt structure with predictable interest obligations and longer maturity terms.

• Institutional Credibility: A successful private placement with listing on the BSE reflects strong institutional investor confidence in Nexus Select Trust’s financial profile.

Significance of the Listing and ISIN Information

The listing of these instruments on BSE Limited ensures transparency, trading flexibility, and regulatory oversight, making the investment more attractive to a broader base of fixed-income investors.

The ISIN (International Securities Identification Number) INE0NDH07050 uniquely identifies the Series III NCDs, enabling precise tracking and dematerialization on depositories like NSDL and CDSL.

Compliance and Regulatory Framework

The issuance was conducted in compliance with the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, ensuring that the instruments meet all disclosure and listing requirements. The resolution by circulation approach conforms to corporate governance standards, especially for trust structures like REITs.

The company has duly notified both BSE Limited and National Stock Exchange of India Limited (NSE)—where the trust is listed under scrip symbol NXST and scrip code 543913—about the outcome of the resolution, as per regulatory disclosure norms.

Additionally, the trust has multiple other listed securities including:

• NCD Scrip Codes: 974908, 974909, 976118, 976119

• Commercial Paper Scrip Code: 728756

These disclosures align with the trust’s commitment to maintaining high levels of transparency with investors and market participants.

Conclusion

The successful allotment of ₹550 crore worth of Series III NCDs marks another significant milestone for Nexus Select Trust in its journey as India’s premier retail-focused REIT. Through proactive financial structuring, efficient capital raising, and adherence to regulatory compliance, the trust continues to strengthen its financial foundation and investor confidence.

As the NCDs get listed on BSE, stakeholders can anticipate greater liquidity and market visibility, further supporting the trust’s long-term growth strategy and commitment to value creation in India's real estate investment landscape.

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