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New Delhi: Nexus Select Trust The company said in a BSE filing that it has sanctioned loans up to Rs 2,350 crore.
board of directors of Nexus Select Mall Management ,NSMMPL), to manager Nexus Select TrustApproved raising of debt up to an aggregate principal amount of up to Rs 2,350 crore for any purpose permitted by applicable law including refinancing of debt raised by one or more Special Purpose Vehicles (SPVs) of the Trust. Through general or other corporate purposes:
Term loan up to an aggregate principal amount of Rs 1,250 crore in one or more instalments;
and issue of non-convertible debentures up to an aggregate principal amount of Rs 1,100 crore in one or more
transaction, series or installment.
It was subscribed 5.45 times on Thursday, the last day of subscription. According to an update available with NSE, bids were received for 101.03 crore units against an offer of 18.52 crore units for the share sale worth Rs 3,200 crore.
The company has a portfolio of 17 operational shopping malls across 14 major cities covering an area of 9.8 million sq ft. As part of a mixed-use development it also operates two hotels and office space with 354 keys.
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