Blackstone-sponsored Nexus Select Trust’s initial public offering of units was subscribed 5.74 times on the last day of the issue with the non-institutional portion getting subscribed 6.6 times, and the QIB portion 5.06 times.
Against the 17.6 crore units on offer bids came in for over 101 crore units at the upper end of the price band.
The anchor portion was earlier subscribed to the extent of ₹1,440 crore. The total size of the IPO is ₹3,200 crore.
Also read: Nexus Select Trust’s REIT IPO subscribed 28% on day 1
“This is an outstanding response in an extremely volatile market. Nexus REIT was the second-largest IPO in the last 12 months. This speaks about the strength of the Nexus platform and increasing acceptance of yield product in the country,” said Chirag Negandhi, Co-CEO and joint MD of Axis Capital.
Nexus Select is the first retail-focused REIT in the country and the fourth REIT to be listed.
The units will be listing next week on Friday.