Nexus Select Trust has successfully completed the redemption of Commercial Papers worth ₹225 crore on March 02, 2026. The redemption was executed in compliance with SEBI Master Circular Number SEBI/HO/DDHS/DDHS-PoD1/P/CIR/2025/0000000103 dated July 11, 2025, and was communicated to BSE Limited through an official intimation.

Redemption Details

The trust redeemed Commercial Papers through full redemption at maturity, with no partial redemption involved. The redemption covered 4,500 Commercial Papers with ISIN INE0NDH14122, completely clearing the outstanding amount.

Timeline and Payment Status

The Commercial Papers were originally scheduled to mature on March 03, 2026. However, due to March 03, 2026 being a public holiday in the State of Maharashtra, the redemption was processed one day earlier on March 02, 2026.

Regulatory Compliance

The redemption was conducted in full compliance with SEBI regulations, specifically adhering to the Master Circular issued in July 2025. The trust confirmed that the redemption payment was made successfully, with no delays or non-payment issues reported.

The intimation was signed by Vijay Kumar Gupta, General Counsel, CS & Compliance Officer (Membership No. A14545), acting on behalf of Nexus Select Trust through its Manager, Nexus Select Mall Management Private Limited. The document was digitally signed on March 02, 2026, at 14:38:39 +05'30', confirming the completion of the redemption process.

Nexus Select Trust has announced a strategic acquisition that marks a significant milestone in its growth trajectory. The Board of Directors approved the acquisition of a 50% equity stake in Garden City Malls Private Limited for INR 434 crores, representing the REIT's first under-construction development partnership since its public listing.

Strategic Acquisition Details

The transaction involves acquiring 50% equity shareholding in Garden City Malls Private Limited, a wholly owned subsidiary of Runwal Residency Private Limited. The deal structure includes comprehensive financial arrangements designed to support the Trust's expansion strategy.

Mall Development and Infrastructure

The integrated shopping mall cum multiplex is strategically positioned at Dombivli, part of the Mumbai Metropolitan Region. The asset will be located at the gateway of the 250-acre Runwal Garden City township, which will house approximately 30,000 residential units with nearly 5,000 families already residing within the development.

The location benefits from significant infrastructure developments including:

• Metro connectivity with Manpada station approximately 100 meters away
• Airoli-Katai tunnel connectivity
• Mumbai–Ahmedabad bullet train station within 2 km proximity
• Virar–Alibaug Multimodal Corridor access

Financial Arrangements and Funding

The Board approved multiple financial initiatives to support the acquisition and operational requirements:

Partnership Structure and Timeline

The development will be undertaken through a special purpose vehicle, combining Runwal's development expertise with Nexus Select Trust's retail experience and asset management capabilities. The transaction includes provisions for future expansion, with Nexus holding a call option to acquire the remaining 50% stake at fair market value after 36 months of acquisition.

The indicative completion timeline extends within 4 years, with NCLT approval required for demerger of the Mall Asset to the Target Company. This structure allows Nexus Select Trust to participate in long-term value creation while maintaining prudent capital discipline and operational control.

Market Position and Growth Strategy

This acquisition represents Nexus Select Trust's strategic evolution from disciplined portfolio expansion to structured development opportunities. The REIT has scaled from two malls to 19 best-in-class assets across India, and this partnership marks its entry into high-growth micro-markets with embedded consumption bases.

The Board meeting, held on February 23, 2026, commenced at 12.02 Hrs IST and concluded at 12.24 Hrs IST, with all necessary approvals granted for this transformative transaction.