Retail REIT / Mall Assets - Listed on 19 May 2023
Nexus Select Trust (Retail REIT / Mall Assets) closed its IPO window in 2023 and listed on NSE and BSE on 19 May 2023 at an upper band issue price of Rs 100, opening at Rs 103 for a listing gain of +3.0% and closing day one at Rs 104.3 (+4.3% on closing basis). The IPO was subscribed 5.45x overall - QIB 4.83x, HNI/NII 6.22x, Retail 5.45x. The total issue size was Rs 3,200 Cr (Fresh Issue Rs 1400 Cr, OFS Rs 1800 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Retail REIT / Mall Assets
Nexus Select Trust operates in the Retail REIT / Mall Assets space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Nexus Select Trust issue was offered at an upper price of Rs 100 and raised approximately Rs 3,200 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 5 | +5.00% |
| Day 2 | Rs 5 | +5.00% |
| Day 3 | Rs 8 | +8.00% |
| Day 4 | Rs 8 | +8.00% |
| Day 5 | Rs 8 | +8.00% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Nexus Select Trust IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Nexus Select Trust IPO listed at +3.0% versus the upper issue price of Rs 100 on 19 May 2023.
Nexus Select Trust IPO was subscribed 5.45x overall. QIB portion was subscribed 4.83x, HNI / NII 6.22x and Retail 5.45x.
IPO GMP started at Rs 5 on Day 1 and moved to Rs 8 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.