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Nexus Select Trust is a listed retail-assets backed REIT (Real Estate Investment Trust). It owns 19 malls across the country. In a regulatory filing, the company informed that its board has approved the proposal to acquire a 100 per cent equity stake in GICPL, which owns a 5.16 lakh sq ft shopping mall and a 164-key Hyatt Regency Hotel for Rs 1,600 crore. Both the mall and hotel are currently under construction in Guwahati. The deal marks its entry into northeast India. These assets will be developed by the seller to mutually agreed specifications. Nexus will assume operational responsibility upon completion of construction and receipt of necessary approvals. The total consideration comprises a combination of cash and unit swap. "The proposed acquisition is in line with the business objectives of the Trust and marks the first step in Nexus' broader strategy to build a presence across the high-potential consumption markets of east and northeast India, with Guwahati providing an attractive entry point into the region," the company said in the filing. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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