Vanguard Group Acquires Major Share in Nexus Select Trust Amid Market Movements

Investment management firm Vanguard Group purchased over 1.14 crore units of REIT firm Nexus Select Trust for Rs 158 crore via open market transactions. Concurrently, Morgan Stanley sold a significant stake in the company. Nexus Select Trust is India's first REIT backed by retail properties, comprising a portfolio of shopping malls, hotels, and office assets.

Investment management giant Vanguard Group acquired more than 1.14 crore units in REIT firm Nexus Select Trust for Rs 158 crore through open market transactions on Wednesday, while Morgan Stanley offloaded a portion of its stake.

Nexus Select Trust, India's inaugural real estate investment trust backed by retail properties, saw significant trading activity. The US-based Vanguard Group's purchase of 1,14,50,476 units equated to a 0.75 per cent stake, bought at an average price of Rs 138.42 per unit, amounting to a transaction value of Rs 158.49 crore.

Meanwhile, Morgan Stanley Asia Singapore sold 78.41 lakh units at an average price of Rs 138.33 each, amounting to Rs 108.47 crore, but also acquired a minor 3,003 unit stake in Nexus Select Trust. The REIT's units rose 1.16 per cent to close at Rs 138.01 each on the NSE.

(With inputs from agencies.)