Global private equity major Blackstone Group-sponsored Nexus Select Trust REIT, India’s maiden real estate investment trust (REIT) with retail properties, is set to launch its initial public offering to raise over Rs 4,000 crore in the first week of May, said persons with direct knowledge of the development.
“It is encouraging to see that Nexus Select Trust is breaking new ground by introducing the first retail REIT to the Indian market. With a varied portfolio of marquee shopping malls across key cities of India, the trust is well-positioned to tap into the strong fundamentals of the country's rising consumption story visible in the increasing footfalls in Grade A malls. The retail sector in India has shown remarkable resilience and steady growth, post the pandemic. By investing in a retail REIT, individual and institutional investors can benefit from the stability and long-term potential of the retail sector. At the same time, investors will be able to spread their risk across a diversified portfolio of real estate, “expressed Gagan Randev, Executive Director, India Sotheby's International Realty
Piyush Gupta, Managing Director, Capital Markets & Investment Services, India at Colliers said, “The revenue-generating Real Assets listed space in India is getting larger and more diversified. With a market capitalisation of over USD 7 billion across Office REITs, Roads and Power INVits and now the launch of Nexus Retail REIT, Investors now have access to multiple options across asset classes to build an annuity income portfolio.”
