Nexus Select Trust has successfully completed the acquisition of the remaining 0.55% equity shareholding in Euthoria Developers Private Limited (EDPL) for ₹10.00 crores on December 26, 2025. This strategic acquisition brings the Trust's ownership in EDPL to 100%, consolidating its control over the special purpose vehicle that owns key mall properties.

Transaction Details

The acquisition involved the purchase of 12,926 equity shares of ₹10.00 each from SSIII Indian Investments One Ltd., a sponsor group entity. The shares were previously under regulatory lock-in until September 30, 2025, and the Trust exercised its option to acquire them following the expiry of this restriction.

About Euthoria Developers Private Limited

EDPL, incorporated on August 8, 2012, operates as a real estate company with its registered office in Ahmedabad, Gujarat. The company owns and operates two significant mall properties: Nexus Ahmedabad One in Ahmedabad and Nexus Amritsar in Amritsar.

Financial Performance

EDPL has demonstrated consistent revenue growth over the past three financial years:

Regulatory and Strategic Context

The acquisition qualifies as a related party transaction under the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014. The transaction was conducted on an arm's length basis, with EDPL being a subsidiary of the Trust and SSIII Indian Investments One Ltd. being a sponsor group company.

The acquisition aligns with the Trust's business objectives and requires no additional governmental or regulatory approvals. The cash consideration of ₹10.00 crores was paid on the completion date, finalizing the Trust's complete ownership of EDPL and its valuable mall properties in Ahmedabad and Amritsar.

Nexus Select Trust has completed the allotment of non-convertible debentures (NCDs) worth ₹700.00 crores through a resolution passed by its Borrowing Committee. The allotment was executed through the trust's manager, Nexus Select Mall Management Private Limited, following prior board approval.

NCD Allotment Details

The allotment comprises two distinct tranches under Series IV, both featuring listed, rated, secured, transferable, and redeemable rupee-denominated non-convertible debentures issued on a private placement basis.

Regulatory Framework and Approval Process

The NCD issuance falls under the broader approval framework established by the Board members. The original approval encompassed the issuance of listed, rated, secured, transferable, redeemable Non-Convertible Debentures for a principal aggregate amount of up to ₹700.00 crores in one or more transactions, series, or tranches in dematerialized form on a private placement basis.

The Borrowing Committee of Nexus Select Mall Management Private Limited, acting as manager to the trust, exercised its authority through resolution by circulation to approve the specific allotment parameters.

Listing and Documentation

Both tranches are proposed to be listed on BSE Limited, providing investors with secondary market liquidity options. The allotment follows the terms and conditions outlined in the Key Information Document, which serves as the primary reference document for investors.

The trust operates through its manager, Nexus Select Mall Management Private Limited, which is registered at Embassy 247, Unit No. 501, B Wing LBS Marg, Vikhroli (West), Mumbai City MH-400083, with CIN: U70109MH2021PTC363065.