Nexus Select Trust raises Rs. 1,440 crore from 20 anchor investors at the upper price band of Rs. 100 per units
Blackstone sponsored Nexus Select Trust, has allotted 14,39,99,850 units to 20 anchor investors and raised Rs. 1,439.99 crore ahead of company’s proposed IPO at the upper price band of Rs. 100 per unit.
Prominent Indian institution dominated the anchor book investment. HDFC Trustee Company Ltd which included HDFC Focused 30 Fund (Rs. 78 crore); HDFC Flexi cap fund (Rs. 171.99 crore), HDFC Infrastructure Fund (Rs. 15 crore) and HDFC Housing Opportunities Fund – 1140D NOVEMBER 2017 (1) (Rs.15 crore). HDFC Life Insurance company Ltd investment was Rs. 174.6 crore. SBI Life Insurance Co ltd invested Rs. 143.99 crore, SBI Dividend Yield Fund invested Rs. 99.99 crore and SBI General insurance Company Limited invested Rs. 29.70 crore.
For the first time, SBI Pension fund has participated in REITs anchor. NPS Trust A/C through SBI Pension Fund Scheme – Central Government (Rs. 24 crore), SBI Pension Fund Scheme – State Government (Rs 24 crore) and SBI Pension Fund Scheme – A Tier I (Rs 1.50 crore) has invested total Rs. 49.50 crore.
Other prominent domestic institutions included IIFL Income Opportunities Fund Series 4 has invested Rs. 149.96 crore, ICICI Prudential Balanced Advantage Fund has invested Rs. 99.99 crore under Mutual fund category and Star Health And Allied Insurance Company Limited has invested Rs. 99.99 crore under Life Insurance category
Company also received good representation from foreign institutional investors such as Prusik Umbrella UCITS Fund Plc / Prusik Asian Equity Income Fund has invested Rs. 160.09 crore, Morgan Stanley Asia (Singapore) PTE.-ODI has invested Rs. 69.51 crore
The anchor detailed allocation is as follows:
| Sr. No. | Name of Anchor Investor | No. of Units allocated | % of Anchor Investor Portion | Bid Price (Rs. Per Unit) | Amount Allocated (Rs.) |
| 1 | HDFC TRUSTEE COMPANY LTD. HDFC FOCUSED 30 FUND | 78,00,000 | 5.42% | 100 | 78,00,00,000 |
| 2 | HDFC TRUSTEE COMPANY LIMITED – HDFC FLEXI CAP FUND | 1,71,99,900 | 11.94% | 100 | 1,71,99,90,000 |
| 3 | HDFC TRUSTEE COMPANY LIMITED – HDFC INFRASTRUCTURE FUND | 15,00,000 | 1.04% | 100 | 15,00,00,000 |
| 4 | HDFC TRUSTEE CO LTD A/C HDFC HOUSING OPPORTUNITIES FUND -1140D NOVEMBER 2017 (1) | 15,00,000 | 1.04% | 100 | 15,00,00,000 |
| 5 | HDFC LIFE INSURANCE COMPANY LIMITED | 1,74,60,000 | 12.13% | 100 | 1,74,60,00,000 |
| 6 | PRUSIK UMBRELLA UCITS FUND PLC / PRUSIK ASIAN EQUITY INCOME FUND | 1,60,09,950 | 11.12% | 100 | 1,60,09,95,000 |
| 7 | IIFL INCOME OPPORTUNITIES FUND SERIES 4 | 1,49,59,950 | 10.39% | 100 | 1,49,59,95,000 |
| 8 | SBI LIFE INSURANC CO. LTD | 1,43,99,850 | 10.00% | 100 | 1,43,99,85,000 |
| 9 | STAR HEALTH AND ALLIED INSURANCE COMPANY LIMITED | 99,99,900 | 6.94% | 100 | 99,99,90,000 |
| 10 | SBI DIVIDEND YIELD FUND | 99,99,900 | 6.94% | 100 | 99,99,90,000 |
| 11 | ICICI PRUDENTIAL BALANCED ADAVANTAGE FUND | 99,99,990 | 6.94% | 100 | 99,99,90,000 |
| 12 | NPS TRUST –A/C SBI PENSION FUND SCHEME – CENTRAL GOVT | 24,00,000 | 1.67% | 100 | 24,00,00,000 |
| 13 | NPS TRUST –A/C SBI PENSION FUND SCHEME – STATE GOVT | 24,00,000 | 1.67% | 100 | 24,00,00,000 |
| 14 | NPS TRUST –A/C SBI PENSION FUND SCHEME A –TIER I | 1,50,000 | 0.10% | 100 | 1,50,00,000 |
| 15 | SBI GENERAL INSURANCE COMPANY LIMITED | 29,70,000 | 2.06% | 100 | 29,70,00,000 |
| 16 | RELIANCE GENERAL INSURANCE COMPANY LIMITED | 24,63,000 | 1.71% | 100 | 24,63,00,000 |
| 17 | GHISALIO MASTER FUND LP | 24,12,900 | 1.68% | 100 | 24,12,90,000 |
| 18 | SEGANTII INDIA MAURITUIS | 24,12,900 | 1.68% | 100 | 24,12,90,000 |
| 19 | MORGAN STANLEY ASIA (SINGAPORE) PTE. –ODI | 69,50,700 | 4.83% | 100 | 69,50,70,000 |
| 20 | TATA INVESTMENT CORPORATION LIMITED | 10,11,000 | 0.70% | 100 | 10,11,00,000 |
| TOTAL | 14,39,99,850 | 100.00% | 100 | 14,39,99,85,000 | |
Out of the total allocation of 143,999,850 units allocated to the Anchor Investors, 47,999,700 units (i.e. 33.33% of the total allocation to Anchor Investors) were allocated to 3 domestic mutual funds through a total of 6 schemes.
| Sr. No. | Name of Anchor Investor | No. of Units allocated | % of Anchor Investor Portion | Bid Price (Rs. Per Unit) | Amount Allocated (Rs.) |
| 1 | HDFC TRUSTEE COMPANY LTD. HDFC FOCUSED 30 FUND | 78,00,000 | 5.42% | 100 | 78,00,00,000 |
| 2 | HDFC TRUSTEE COMPANY LIMITED – HDFC FLEXI CAP FUND | 1,71,99,900 | 11.94% | 100 | 1,71,99,90,000 |
| 3 | HDFC TRUSTEE COMPANY LIMITED – HDFC INFRASTRUCTURE FUND | 15,00,000 | 1.04% | 100 | 15,00,00,000 |
| 4 | HDFC TRUSTEE CO LTD A/C HDFC HOUSING OPPORTUNITIES FUND -1140D NOVEMBER 2017 (1) | 15,00,000 | 1.04% | 100 | 15,00,00,000 |
| 5 | SBI DIVIDEND YIELD FUND | 99,99,900 | 6.94% | 100 | 99,99,90,000 |
| 6 | ICICI PRUDENTIAL BALANCED ADAVANTAGE FUND | 99,99,990 | 6.94% | 100 | 99,99,90,000 |
| TOTAL | 4,79,99,700 | 33.33% | 100 | 4,79,99,70,000 | |
BofA Securities India Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, IIFL Securities Limited, JM Financial Limited, J P Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and SBI Capital Markets Limited are bankers to the issue.
Public issue opened on Tuesday, May 09, 2023 and closes on Thursday, May 11, 2023