May 18, 2024

Nexus Select Trust raises Rs. 1,440 crore from 20 anchor investors at the upper price band of Rs. 100 per units

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Blackstone sponsored Nexus Select Trust, has allotted 14,39,99,850 units to 20 anchor investors and raised Rs. 1,439.99 crore ahead of company’s proposed IPO at the upper price band of Rs. 100 per unit.

Prominent Indian institution dominated the anchor book investment. HDFC Trustee Company Ltd which included HDFC Focused 30 Fund (Rs. 78 crore); HDFC Flexi cap fund (Rs. 171.99 crore), HDFC Infrastructure Fund (Rs. 15 crore) and HDFC Housing Opportunities Fund – 1140D NOVEMBER 2017 (1) (Rs.15 crore).   HDFC Life Insurance company Ltd investment was Rs. 174.6 crore. SBI Life Insurance Co ltd invested Rs. 143.99 crore, SBI Dividend Yield Fund invested Rs. 99.99 crore and SBI General insurance Company Limited invested Rs. 29.70 crore.

For the first time, SBI Pension fund has participated in REITs anchor. NPS Trust A/C through SBI Pension Fund Scheme – Central Government (Rs. 24 crore), SBI Pension Fund Scheme – State Government (Rs 24 crore) and SBI Pension Fund Scheme – A Tier I (Rs 1.50 crore) has invested total Rs. 49.50 crore.

Other prominent domestic institutions included IIFL Income Opportunities Fund Series 4 has invested Rs. 149.96 crore, ICICI Prudential Balanced Advantage Fund has invested Rs. 99.99 crore under Mutual fund category and Star Health And Allied Insurance Company Limited has invested Rs. 99.99 crore under Life Insurance category

Company also received good representation from foreign institutional investors such as Prusik Umbrella UCITS Fund Plc / Prusik Asian Equity Income Fund has invested Rs. 160.09 crore, Morgan Stanley Asia (Singapore) PTE.-ODI has invested Rs. 69.51 crore

The anchor detailed allocation is as follows:

 

Sr. No.

Name of Anchor Investor

No. of Units allocated

% of Anchor Investor Portion

Bid Price (Rs. Per Unit)

Amount Allocated (Rs.)

1

HDFC TRUSTEE COMPANY LTD.  HDFC FOCUSED 30 FUND

78,00,000

5.42%

100

78,00,00,000

2

HDFC TRUSTEE COMPANY LIMITED – HDFC FLEXI CAP FUND

1,71,99,900

11.94%

100

1,71,99,90,000

3

HDFC TRUSTEE COMPANY LIMITED – HDFC INFRASTRUCTURE FUND

15,00,000

1.04%

100

15,00,00,000

4

HDFC TRUSTEE CO LTD A/C HDFC HOUSING OPPORTUNITIES FUND -1140D NOVEMBER 2017 (1)

15,00,000

1.04%

100

15,00,00,000

5

HDFC LIFE INSURANCE COMPANY LIMITED

1,74,60,000

12.13%

100

1,74,60,00,000

6

PRUSIK UMBRELLA UCITS FUND PLC / PRUSIK ASIAN EQUITY INCOME FUND

1,60,09,950

11.12%

100

1,60,09,95,000

7

IIFL INCOME OPPORTUNITIES FUND SERIES 4

1,49,59,950

10.39%

100

1,49,59,95,000

8

SBI LIFE INSURANC CO. LTD

1,43,99,850

10.00%

100

1,43,99,85,000

9

STAR HEALTH AND ALLIED INSURANCE COMPANY LIMITED

99,99,900

6.94%

100

99,99,90,000

10

SBI DIVIDEND YIELD FUND

99,99,900

6.94%

100

99,99,90,000

11

ICICI PRUDENTIAL BALANCED ADAVANTAGE FUND

99,99,990

6.94%

100

99,99,90,000

12

NPS TRUST –A/C SBI PENSION FUND SCHEME – CENTRAL GOVT

24,00,000

1.67%

100

24,00,00,000

13

NPS TRUST –A/C SBI PENSION FUND SCHEME – STATE GOVT

24,00,000

1.67%

100

24,00,00,000

14

NPS TRUST –A/C SBI PENSION FUND SCHEME A –TIER I

1,50,000

0.10%

100

1,50,00,000

15

SBI GENERAL INSURANCE COMPANY LIMITED

29,70,000

2.06%

100

29,70,00,000

16

RELIANCE GENERAL INSURANCE COMPANY LIMITED

24,63,000

1.71%

100

24,63,00,000

17

GHISALIO MASTER FUND LP

24,12,900

1.68%

100

24,12,90,000

18

SEGANTII INDIA MAURITUIS

24,12,900

1.68%

100

24,12,90,000

19

MORGAN STANLEY ASIA (SINGAPORE) PTE. –ODI

69,50,700

4.83%

100

69,50,70,000

20

TATA INVESTMENT CORPORATION LIMITED

10,11,000

0.70%

100

10,11,00,000

TOTAL

14,39,99,850

100.00%

100

14,39,99,85,000

 

Out of the total allocation of 143,999,850 units allocated to the Anchor Investors, 47,999,700 units (i.e. 33.33% of the total allocation to Anchor Investors) were allocated to 3 domestic mutual funds through a total of 6 schemes.

 

Sr. No.

Name of Anchor Investor

No. of Units allocated

% of Anchor Investor Portion

Bid Price (Rs. Per Unit)

Amount Allocated (Rs.)

1

HDFC TRUSTEE COMPANY LTD.  HDFC FOCUSED 30 FUND

78,00,000

5.42%

100

78,00,00,000

2

HDFC TRUSTEE COMPANY LIMITED – HDFC FLEXI CAP FUND

1,71,99,900

11.94%

100

1,71,99,90,000

3

HDFC TRUSTEE COMPANY LIMITED – HDFC INFRASTRUCTURE FUND

15,00,000

1.04%

100

15,00,00,000

4

HDFC TRUSTEE CO LTD A/C HDFC HOUSING OPPORTUNITIES FUND -1140D NOVEMBER 2017 (1)

15,00,000

1.04%

100

15,00,00,000

5

SBI DIVIDEND YIELD FUND

99,99,900

6.94%

100

99,99,90,000

6

ICICI PRUDENTIAL BALANCED ADAVANTAGE FUND

99,99,990

6.94%

100

99,99,90,000

TOTAL

4,79,99,700

33.33%

100

4,79,99,70,000

 

BofA Securities India Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, IIFL Securities Limited, JM Financial Limited, J P Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and SBI Capital Markets Limited are bankers to the issue.

Public issue opened on Tuesday, May 09, 2023 and closes on Thursday, May 11, 2023