Nexus Select Trust approved the allotment of commercial papers worth ₹250 crore on September 24, 2026. The borrowing committee authorized two distinct tranches of short-term debt instruments to be issued via private placement.

The first tranche comprises 3,000 units with a face value of ₹5 lakh each, aggregating to ₹150 crore. These instruments have a tenure of 54 days and mature on November 17, 2026. The second tranche consists of 2,000 units, also with a face value of ₹5 lakh each, totaling ₹100 crore. This portion has a shorter tenure of 43 days, with maturity scheduled for November 6, 2026.

Issue structure and pricing

Both tranches were allotted at a discount rate of 6.35%. The instruments are listed, rated, redeemable, and rupee-denominated. They were issued in dematerialized form in accordance with the disclosure document dated September 22, 2026. The commercial papers are proposed to be listed on the wholesale debt market segment of BSE Limited.

Procedural approval

The decision was passed through a resolution by circulation by the Borrowings Committee of Nexus Select Mall Management Private Limited, acting as the manager to the trust. The resolution was effective Thursday, September 24, 2026. Vijay Kumar Gupta, Company Secretary and Compliance Officer, signed the regulatory filing confirming the allotment.

Nexus Select Trust sponsor BREP Asia SG Forum Holding (NQ) Pte. Ltd created a pledge over 1,300,000 units on September 11, 2026. The encumbrance secures obligations for a related credit facility.

The pledge was established in favour of Deutsche Bank AG, acting as the onshore security agent for the lenders. This action brings the total pledged units held by the sponsor to 34,909,064, representing 100% of its total holding in the trust. The sponsor's total unitholding stands at 34,909,064 units, which is 2.30423% of the total outstanding units of the trust.

Pledge Details

The transaction values the pledged units at ₹217.3 crore, based on the NSE volume-weighted average price as of September 11, 2026. The pledge agreement was dated June 3, 2026, and relates to a facility agreement originally executed on June 13, 2023, and amended on September 23, 2025.

Purpose of Borrowing

The amounts borrowed by the borrower under the facility agreement have been utilized for genuine business purposes of the pledgor outside India. The funds were not used for any investments, either directly or indirectly, in India. Furthermore, the borrowing has not resulted in any capital inflow into India.

What the Numbers Show

The pledge covers the entire stake held by BREP Asia SG Forum Holding. With 34,909,064 units now encumbered, the sponsor has no unpledged units remaining in its portfolio. This indicates that all equity held by this specific sponsor group entity is currently serving as collateral for external borrowing obligations outside India.

Regulatory Disclosure

The disclosure was made under Regulation 12.3.1 of Chapter 12 of the SEBI Master Circular for Investment Trusts (REITs), bearing reference number SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July 11, 2025. The trust received the intimation on September 15, 2026, following pre-clearance granted on September 11, 2026.