New Delhi, May 19 (PTI) Shares of Nexus Select Trust, the first REIT backed by rent-yielding retail real estate assets, listed with a gain of 3 per cent against the issue price of Rs 100 per unit on Friday.

The stock made its debut at Rs 102.27, up 2.27 per cent on the BSE. It further climbed 4.9 per cent to Rs 104.90.

Also Read | 20% TCS FAQs: Finance Ministry Answers Questions Related to International Credit Card Usage.

At the NSE, it started the trade at Rs 103, up 3 per cent.

The initial public offering (IPO) of Nexus Select Trust was subscribed 5.45 times on the last day of subscription on Thursday last week.

Also Read | RBSE Class 12 Result 2023 Out: Rajasthan Class 12th Board Examination Results Declared on rajeduboard.rajasthan.gov.in, Check Steps to Download Marksheet.

The Rs 3,200-crore share sale had a price band of Rs 95-100 per unit.

The Real Estate Investment Trust is sponsored by Blackstone.

Nexus Select Trust has a portfolio of 17 operational shopping malls, including Delhi's premium Select City Walk, across 14 major cities covering a 9.8 million square feet area. It operates two hotels with 354 keys and also office spaces as part of mixed-use development.

There are three listed REITs -- Embassy Office Parks REIT, Mindspace Business Parks REIT and Brookfield India Real Estate Trust -- on the Indian stock exchanges but all of them are backed by leased office assets.PTI SUM SUM

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)