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Nexus Select Trust raises Rs.1,440-Cr from anchor investors for REIT

Business Standard  

Blackstone-sponsored Nexus Select Trust has raised INR 1,440 crore from anchor investors prior to launch of the public offer of its REIT (real estate investment trust). Among the mutual fund investors, HDFC MF had the highest allocation at INR 280 crore, followed by IIFL AMC with INR 150 crore, ICICI Pru MF at INR 100 crore and SBI MF INR 100 crore. HDFC Life Insurance subscribed to units worth INR 175 crore, SBI Life INR 144 crore and Star Health INR 100 crore.Other anchor investors included Prusik, Morgan Stanley and Tata Investment Corp. The company will hit the capital market to raise INR 3,200 crore through its public offer, and this includes fresh issue of units worth up to INR 1,400 crore and an Offer for Sale (OFS) of INR 1,800 crore. The company has fixed the price band at INR 95 per unit to INR 100 per unit for the proposed issue scheduled to close on May 11.