Nexus Select Trust has formally announced its decision to exercise the call option on its Non-Convertible Debentures (NCDs) worth ₹700 crore. The trust communicated this decision through an official notice dated December 10, 2025, to BSE Limited and relevant stakeholders.

Debenture Redemption Details

The trust will redeem 70,000 Series I Tranche A Debentures in full on December 16, 2025. These debentures carry the ISIN INEONDH07019 and scrip code 974908 on BSE. The redemption follows the terms outlined in the Debenture Trust Deed executed on June 14, 2023, between the trust and Catalyst Trusteeship Limited as the debenture trustee.

Redemption Amount Structure

Each debenture will be redeemed at a total amount of ₹1,01,658.14, which includes both the principal and accrued interest components. The redemption amount breakdown demonstrates the trust's commitment to honoring its obligations to debenture holders.

Stakeholder Communication

The trust issued comprehensive notices to all relevant parties, including the debenture trustee Catalyst Trusteeship Limited and multiple debenture holders. The debenture holders include prominent financial institutions and mutual funds such as:

• Aditya Birla Sun Life Trustee Private Limited
• DSP Low Duration Fund
• ICICI Prudential Short Term Fund
• HDFC Bank Limited Custody Operations
• Invesco India funds
• Axis Mutual Fund schemes
• Mahindra Manulife funds
• HDFC Life Insurance Company Limited
• SBI Magnum Children's Benefit Fund

Regulatory Compliance

The call option exercise follows proper regulatory procedures, with formal intimation provided to BSE Limited's Corporate Relations Department. The trust referenced a previous Call Option Notice-1 dated November 24, 2025, indicating a structured approach to the redemption process. All payments required under the call option will be completed on the specified redemption date of December 16, 2025.

The transaction represents a significant corporate action by Nexus Select Trust, managed through Nexus Select Mall Management Private Limited, demonstrating active debt management and adherence to debenture terms and conditions.

Nexus Select Trust , India's leading real estate investment trust focused on consumption centers, has successfully completed a strategic expansion of its retail portfolio in Chandigarh. The trust has acquired approximately 60,000 sq. ft. of retail space at the Nexus Elante Complex for ₹253.7 crores, further solidifying its position in the northern Indian market.

Acquisition Details

The acquisition includes prime vacant retail space on the ground and first floors of a building adjacent to the Nexus Elante Mall. This strategic move is expected to enhance the mall's visibility, customer flow, and dwell time, potentially leading to increased value creation.

Financial Highlights

• Total Enterprise Value: ₹253.70 crores
• Purchase Consideration: ₹230.65 crores (8% discount to Independent Valuation Report for Retail usage)
• Additional Costs: The remaining amount covers stamp duty, registration charges, closing costs, and planned capital expenditure

Funding Structure

The acquisition was financed through a combination of:

• Commercial paper issuance: ₹202.00 crores at a 6.2% coupon rate
• Existing cash reserves: For the balance amount

Strategic Rationale

1. Market Leadership: The expansion strengthens Nexus Elante's market leadership in the Chandigarh Tricity area, particularly in the underserved premium and luxury retail segment.
2. Strong Performance History: The ground and first floors of Nexus Elante have shown robust performance with:
   • Nearly full occupancy for the past five years
   • 9% rental CAGR over seven years
3. High-Value Tenant Mix: The expansion targets high-value retail categories including luxury fashion, premium F&B, and high-end electronics.
4. Tenant Demand: The acquisition is driven by strong tenant demand, with a waitlist of over 30 prospective tenants.

Financial Performance

Based on the latest financial data, Nexus Select Trust has shown resilience and growth:

The trust's financial position remains strong, with total assets of ₹20,547.90 crores, representing a 2.17% increase year-over-year.

Future Outlook

Nexus Select Trust aims to replicate this expansion strategy in other retail micro-markets where it has a deep understanding. The trust plans to selectively expand and consolidate high-potential retail spaces within established clusters, leveraging its robust customer and tenant insights.

With this acquisition, Nexus Select Trust maintains its Loan-to-Value (LTV) ratio at 18%, preserving a ₹1.00 billion debt headroom for future growth opportunities. This strategic move is expected to further strengthen the trust's position in the Indian retail real estate market and potentially drive long-term value for unitholders.

As the retail sector continues to evolve, Nexus Select Trust's focused expansion strategy and strong financial performance position it well to capitalize on the growing consumption trends in India's key urban centers.