Nexus Select Trust REIT to finalise IPO share allotment today: Here's how to check your status

IPO Allotment

Nexus Select Trust, the leading real estate investment trust, is going to finalise the IPO share allotment on May 16, after closing its maiden public issue last week. The participants can get the shares on a proportionate basis given the good amount of subscription to IPO.

Generally, the share allotment takes place on the third day after the issue closing. The participants can check their share allotment either on the BSE website or on the portal of IPO registrar by following few easy steps. Kfin Technologies is the IPO registrar.

On IPO registrar's portal,

a) Select IPO (Nexus Select Trust REIT)

b) Select and accordingly enter either 'Application number', or 'Demat account number', or 'PAN number'

c) Enter captcha and click on 'submit' button

In case of BSE Website,

a) Select equity and issue name (Nexus Select Trust REIT)

b) Enter either 'Application number' or 'PAN number'

c) Check box (I'm not a robot) and hit on 'search' button

The refunds will be credited to bank accounts of unsuccessful investors by May 17 and the equity shares will be transferred to demat accounts of eligible investors by May 18.

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The units will get listed on the BSE and NSE on May 19.

Blackstone-backed Nexus Select Trust IPO units are traded with 3-5 percent premium in the grey market over the expected final issue price of Rs 100 per unit, analysts on anonymity said. The grey market is an unofficial platform for trading in IPO shares/units and investors generally look the grey market to know the potential listing price of an IPO.

The IPO has received decent response from investors as the issue garnered bids for 101.03 crore units against an offer size of 18.52 crore units, subscribing 5.45 times during May 9-11, 2023.

The institutional investors had bought 4.81 times the allotted quota, and the portion set aside for non-institutional investors was subscribed 6.23 times.

Nexus Select Trust is the owner of India’s leading consumption centre platform of high-quality assets with the portfolio comprising 17 best-in-class Grade A urban consumption centres with a total leasable area of 9.2 million square feet (sqft), two complementary hotel assets (354 keys), and three office assets (1.3 msft) as of December 2022.

The Rs 3,200-crore initial public offering of the real estate investment trust was comprised a fresh issue of Rs 1,400 crore and an offer for sale of Rs 1,800 crore by selling shareholders. The price band for the offer was Rs 95-100 per unit.

This would be the fourth REIT to list on the bourses since 2019, after Embassy Office Parks REIT, Mindspace Business Parks REIT and Brookfield India Real Estate Trust REIT.