NSNexus Select Trust543913Promoter pledge update

Sponsor group extends security cover on 326,819,372 pledged units to a USD 300,000,000 facility

Six sponsor and sponsor-group entities of Nexus Select Trust have extended their existing pledge over ~32.68 crore units — 21.57% of total outstanding units — so it also secures a larger loan commitment.

By ScoutQuest · Fri 23 Oct 2026, 12:33 PM IST · 2 min read

Units under pledge

326,819,372 units (21.57% of total outstanding units)

Total loan commitment secured

up to USD 300,000,000, including an increased amount of up to USD 100,000,000

Amount drawn down

USD 81,000,000

The sponsor group has widened what its existing pledged units secure, without locking up any more units.

What the disclosure says

• The existing pledges held by six sponsor and sponsor-group entities cover ~32.68 crore units, equal to 21.57% of the total outstanding units of the trust.
• These same pledges will now also provide security over the total commitment of USD 300,000,000, which includes an increased amount of up to USD 100,000,000. Of that increased amount, USD 81,000,000 has been drawn down.
• The update says there is no change in the number of units pledged earlier, and that no additional units are proposed to be pledged.

How the pledge built up

• June 2023: ~42.51 crore units (28.06% of total outstanding units) were pledged in favour of Deutsche Bank AG, Mumbai Branch, acting as onshore security agent, for a period until May 14, 2026, linked to a credit facility availed by NXST ML (NQ) Limited.
• August 2024: the pledge was released over ~38.06 crore units (25.12%), ~31.56 crore units (20.83%) were sold, and 65,015,634 unsold units (4.29%) were re-pledged. That left ~10.95 crore units (7.23%) pledged until May 14, 2026.
• June 2026: BREP Asia SG Forum Holding (NQ) Pte. Ltd., Wynford Investments Limited, SSIII Indian Investments One Ltd. and BRE Coimbatore Retail Holdings Ltd. pledged 228,005,666 units.
• September 2026: BREP Asia SG Forum Holding (NQ) Pte. Ltd. released the pledge over 1.2 crore units (0.79%), sold 1.07 crore units (0.70%) and re-pledged 1,300,000 unsold units (0.09%).

What changed on the borrowing side

• The borrower has entered into an amendment and reinstatement facility agreement dated 19 October 2026, executed by, among others, JP Morgan Chase Bank, N.A., London Branch as the acceding new lender, Barclays Bank PLC as the original lender, and Deutsche Bank AG, Singapore Branch as the agent.
• The purpose is an increased commitment from lenders of up to USD 100,000,000, taking total commitments to up to USD 300,000,000.

Where the money is used

• The update states the amounts borrowed have been used for genuine business purposes of the pledgors outside India, and not for any investments, directly or indirectly, in India.
• It also states the borrowings have not resulted in any capital inflow into India.

How a unit holder can read this

• The size of the encumbrance on the sponsor group's units is unchanged at ~32.68 crore units, or 21.57% of total outstanding units.
• What has changed is that the same pledged units now stand as security for a larger total loan commitment of USD 300,000,000, against the earlier commitment.
• The borrowing sits with the borrower named in the update, NXST ML (NQ) Limited, and the disclosure records that the proceeds are used outside India and have not brought capital into India.
• The disclosure is a compliance intimation under the REIT PIT Code and the SEBI Master Circular governing REITs.

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