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Nexus Select in talks to acquire mall; Anand Rathi, PhysicsWallah eye IPOs

VCCircle

VCCircle · 10m ago

Nexus Select in talks to acquire mall; Anand Rathi, PhysicsWallah eye IPOs

Nexus Select Trust, supported by Blackstone, is reportedly in talks to acquire Axis Mall in Kolkata. However, the deal is anticipated to be complex as the mall is primarily strata-owned and part of it is owned by fugitive diamond dealer Mehul Choksi, which has been attached by law enforcement authorities. In other news, Anand Rathi and PhysicsWallah are considering initial public offerings (IPOs).

Related News

Blackstone-backed Nexus Select to acquire Bengaluru mall for over $100 mn

VCCircle

VCCircle · 9m ago

Blackstone-backed Nexus Select to acquire Bengaluru mall for over $100 mn

Nexus Select, a retail real estate investment trust (REIT) backed by Blackstone, has announced plans to acquire Vega City Mall in Bengaluru for a cash consideration of up to $104.4 million. The acquisition will help Nexus Select expand its presence in the city and is expected to be completed by October 22. Nexus Select currently has 17 retail real estate assets across 14 cities in India and had recorded Rs 3,000 crore of tenant sales and 97.4% retail portfolio occupancy as of June 2024. Blackstone retains a 23% stake in Nexus Select, currently worth Rs 4,658 crore.

Blackstone-backed Nexus Select REIT takes over Bengaluru mall

VCCircle

VCCircle · 5m ago

Blackstone-backed Nexus Select REIT takes over Bengaluru mall

Nexus Select Trust, backed by Blackstone, has acquired Bengaluru's Vega City Mall for about Rs 913 crore ($105 million). The acquisition, funded through non-convertible debentures, enhances Nexus's presence in Bengaluru, adding to assets like Nexus Shantiniketan and Nexus Whitefield. The mall is 96% leased to various brands. With a strong balance sheet and presence in 14 cities, Nexus Select Trust, listed in 2023, focuses primarily on retail, but also owns commercial, hospitality, and energy assets.

PhysicsWallah plans ₹2,500 crore takeover of Drishti IAS

Inshorts · 4m ago

PhysicsWallah plans ₹2,500 crore takeover of Drishti IAS

Alakh Pandey-led edtech startup PhysicsWallah is in talks to acquire Drishti IAS coaching in a deal that could be valued at around ₹2,500 crore, reports claimed. Reports of potential acquisition come as PhysicsWallah gears up for its IPO. Earlier this month, Moneycontrol reported that PhysicsWallah filed draft papers through the confidential pre-filing route to raise ₹4,600 crore via an IPO.

PhysicsWallah in talks to acquire Sarrthi IAS

Entrackr

Entrackr · 3m ago

PhysicsWallah in talks to acquire Sarrthi IAS

Edtech unicorn PhysicsWallah is in final-stage talks to acquire Sarrthi IAS, an online platform that provides mentorship-focused courses for UPSC preparation. Sources indicate that the deal is likely in the range of Rs 120–130 crore, with Sarrthi having closed FY25 with Rs 35 crore in revenue and around Rs 20 crore in profits. The discussions follow PhysicsWallah's negotiations to acquire Drishti IAS for Rs 2,500–3,000 crore and align with the company's strategy to expand in the UPSC preparatory space. Sarrthi has been exploring consolidation with a larger player and has engaged in talks with other edtech firms. While sources suggest advanced discussions, Sarrthi's founder, Varun Jain, denies the ongoing talks. PhysicsWallah is reportedly preparing for an IPO, aiming to raise $500 million at a $5 billion valuation, and has seen substantial growth, reporting Rs 1,940.4 crore revenue in FY24.

Carlyle, Kadaara portfolio companies get SEBI nod for IPO

VCCircle

VCCircle · 6m ago

Carlyle, Kadaara portfolio companies get SEBI nod for IPO

Private equity firms Carlyle and Kedaara Capital received regulatory approval from the Securities and Exchange Board of India (SEBI) to proceed with initial public offerings (IPOs) for Hexaware Technologies Ltd and Ajax Engineering Ltd. SEBI's final observations serve as its approval for these IPO documents. Additionally, SEBI approved IPO plans for PMEA Solar Tech Solutions Ltd, All Time Plastics Ltd, Scoda Tubes Ltd, and Vikran Engineering Ltd, while returning Anand Rathi Share and Stock Brokers Ltd's draft papers.

Nexus Select Trust open to acquiring more top malls after Hyderabad deal

Livemint

Livemint · 1y ago

Nexus Select Trust open to acquiring more top malls after Hyderabad deal

Nexus Select Trust, a retail real estate investment trust (REIT) backed by Blackstone, is looking to acquire more top-tier malls in India. The company recently announced plans to purchase three grade-A malls in Hyderabad for ₹1,000 crore. The acquisition will be distribution-per-unit accretive in FY26 and will be fully funded by debt. Nexus Select Trust aims to expand its portfolio in the 14 markets where it currently operates and is considering opportunities in eastern India. The company already owns 17 grade-A malls in 14 cities, along with hotels and office assets.

Sebi to curb finfluencers to help investors get accurate, unbiased information

Economic Times

Economic Times · 1y ago

Sebi to curb finfluencers to help investors get accurate, unbiased information

Moves proposed by Sebi last month not only ensure that investors receive accurate and unbiased information but also help in preserving authenticity and reducing fraud, Anand Rathi Wealth Deputy CEO Feroz Azeez told PTI.

Swiggy integrates Mall offering with Instamart

Economic Times

Economic Times · 1y ago

Swiggy integrates Mall offering with Instamart

Food delivery platform Swiggy is integrating its Mall service with its quick commerce service Instamart. Swiggy Mall currently operates in select areas of Bengaluru and offers a range of non-grocery items. The move comes as competitors Zepto and Blinkit are also expanding beyond grocery products. Quick commerce platforms are experiencing robust growth in non-grocery categories, leading to the emergence of smaller direct-to-consumer brands seeking to join these platforms.

Ashok Leyland, Narayana Hrudayalaya & Paisalo Digital: 3 short-term stock trading ideas

Business Today

Business Today · 5m ago

Ashok Leyland, Narayana Hrudayalaya & Paisalo Digital: 3 short-term stock trading ideas

Choice Broking notes that Ashok Leyland is nearing a breakout from a falling channel on the weekly chart, with consolidation around resistance levels and significant volume suggesting buying interest. Meanwhile, Narayana Hrudayalaya is trading near its life high despite market adversity, showcasing relative strength, according to an analyst from Anand Rathi.

Startups aim to raise over Rs 18,000 crore via IPOs in major D-Street push - The Economic Times

Economic Times

Economic Times · 1m ago

Startups aim to raise over Rs 18,000 crore via IPOs in major D-Street push - The Economic Times

Indian startups are increasingly seeking local stock exchange listings, driven by strong public market valuations and a mature domestic ecosystem. In 2023, twelve companies plan to raise over Rs 18,000 crore through IPOs, highlighting confidence in public markets for fundraising. Notable companies like Meesho and PhysicsWallah are leading these efforts. Analysts note that listing in India offers favorable valuation multiples. Startups are using IPOs to raise capital, provide investor exits, and support expansion.

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