Nexus Select Trust has approved the acquisition of a 100% equity stake in Galaxy Infra Creations Pvt. Ltd. (GICPL) for ₹1,600 crore. The board meeting on September 9, 2026, sanctioned the Share Purchase Agreement to expand the trust’s footprint in Northeast India.

The target entity owns a Grade-A mall with approximately 516,000 sq. ft. of Gross Leasable Area and a 164-key Hyatt Regency Hotel in Guwahati. Both assets are currently under construction and expected to be completed by December 2027.

Deal Structure

The total consideration is subject to customary closing adjustments. The payment structure comprises a combination of cash and unit swap. The trust will acquire 56,39,300 equity shares with a face value of ₹10 each. Funding is proposed through an estimated 40% debt raise, with the balance via fresh unit issuance and unit swap.

Strategic Rationale

This acquisition marks the first step in Nexus Select Trust’s strategy to build presence in high-potential consumption markets across East and Northeast India. Guwahati serves as an attractive entry point into the region. The deal is not classified as a related-party transaction, and no sponsor or group company holds an interest in GICPL.

Valuation Report Details

The trust released a valuation report dated September 9, 2026, assessing the projected market value as of December 31, 2027. The report assigns a total projected market value of ₹16,479 million to the assets upon completion.

The valuation uses the Discounted Cashflow Method. For the retail mall, a capitalization rate of 8.00% and a discount rate of 11.75% were adopted. For the hotel, an EV/EBITDA multiple of 14x and a discount rate of 11.88% were used. The report assumes annual rental growth of approximately 5%.

Financial Profile of Target

GICPL was incorporated on September 3, 2013, and operates in the real estate sector. Its paid-up capital stands at ₹5.64 crore. Revenue figures indicate minimal operational activity prior to this development phase.

What the Numbers Show

The enterprise value of ₹1,600 crore contrasts sharply with GICPL’s audited revenue of ₹0.288 crore in FY25. This valuation reflects the underlying asset value of the under-construction Grade-A mall and hotel rather than current operating cash flows. The revenue spike from ₹0.005 crore in FY24 to ₹0.288 crore in FY25 suggests initial project-related income recognition. The acquisition implies a cap rate range of 8.25-8.50% for the mall and an EBITDA multiple range of 11.5-12.5x for the hotel, according to the press release.

Timeline and Approvals

The acquisition is tentatively expected to complete within 18 months. No governmental or regulatory approvals are required for the transaction itself, though the valuation report notes that actual market conditions may differ materially from assumptions. The property enjoys good frontage towards NH-27, Guwahati, and is located approximately 27 kilometres from Lokpriya Gopinath Bordoloi International Airport.

Nexus Select Trust management conducted a one-on-one meeting with an institutional investor on September 8, 2026. Senior management personnel from Nexus Select Mall Management Private Limited, the manager to the trust, attended the session.

The meeting was held to engage with the investor regarding the trust’s operations and strategy. The company informed the National Stock Exchange of India Limited and BSE Limited about the interaction.

Meeting Details

Vijay Kumar Gupta, General Counsel and Compliance Officer of Nexus Select Mall Management Private Limited, signed the disclosure. The filing was submitted to both exchanges on the same day.