Nexus Select Trust has successfully completed the redemption of its Non-Convertible Debentures (NCDs) worth ₹700.00 crore following the exercise of call option on December 16, 2025. The trust confirmed completion of all required payments to debenture holders and submitted the mandatory regulatory report under SEBI regulations.

Debenture Redemption Details

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

Payment Structure

Each debenture was redeemed at ₹1,01,658.14, comprising both principal and accrued interest components.

Regulatory Compliance

Nexus Select Trust submitted the mandatory report under Regulation 15(9) of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, and Regulation 57 of SEBI LODR Regulations. The report confirmed that interest payment and redemption payment were made as scheduled, with the last interest payment date being September 30, 2025.

Stakeholder Communication

The trust had previously issued notices to all relevant parties, including debenture trustee Catalyst Trusteeship Limited and multiple debenture holders comprising 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, and other institutional investors.

The successful completion of this ₹700.00 crore debenture redemption demonstrates Nexus Select Trust's commitment to honoring its debt obligations. The transaction was managed through Nexus Select Mall Management Private Limited, with Vijay Kumar Gupta, General Counsel and CS Compliance Officer, overseeing the regulatory compliance aspects.

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.