Blackstone sells over 310 mn units in Nexus Select Trust for Rs 4,355 cr
Global investment firm Blackstone on Friday sold 31.55 crore units in its REIT firm 'Nexus Select Trust' for around Rs 4,354.90 crore through a block deal on stock exchanges as part of a strategy to monetise real estate portfolio.
Blackstone currently holds around 43 per cent stake in Nexus Select Trust, which is India's first real estate investment trust (REIT) backed by retail properties.
According to exchange data, Blackstone sold 31.55 crore units in Nexus Select Trust at Rs 138 apiece, taking the total transaction value to Rs 4,354.90 crore.
Domestic mutual funds, including ICICI Prudential Mutual Fund (MF), and HDFC MF picked up units of Nexus Select Trust. Among foreign companies, US-based financial services company Wells Fargo and Morgan Stanley acquired stake in the company while French asset management firm Carmignac bought units of the REIT firm, as per the data on the NSE.
These entities acquired a total of 11.75 crore units or 7.76 per cent stake in Nexus Select ...