Nexus Select Trust Share Price in Focus; Plans to Acquire 50% Stake in Garden City Malls for ₹434 Crore

Nexus Select Trust, acting through its manager Nexus Select Mall Management Private Limited, has approved the acquisition of 50% equity shareholding in Garden City Malls Private Limited for a purchase consideration of ₹434 crore. 

Nexus Select Trust Approves ₹434 Crore Acquisition 

On February 23, 2026, the Board of Directors of Nexus Select Mall Management Private Limited approved the execution of a share purchase and subscription agreement for the acquisition by the Trust of 50% equity shareholding in Garden City Malls Private Limited, a wholly owned subsidiary of Runwal Residency Private Limited.  

The overall enterprise value is ₹892 crore, including estimated closing costs, subject to closing adjustments. The acquisition will be completed post transfer of the completed integrated shopping mall cum multiplex at Dombivli to the Target Company. 

Details of the Mall Asset 

The integrated shopping mall cum multiplex at Dombivli will have an approximate Gross Leasable Area of 7.3 lakh sq. ft. and Net Leasable Area of 4.67 lakh sq. ft. The mall asset is being built on land admeasuring 29,139 square meters, approximately 7.20 acres, located at Village Gharivali, Taluka Kalyan, District Thane.  

The Target Company was incorporated on December 10, 2025, with a paid-up capital of ₹1 lakh. The acquisition requires NCLT approval for demerger of the Mall Asset to the Target Company and is not a related party transaction. 

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Debentures Subscription and Term Loan 

The Board also approved subscription by the Trust to redeemable, unlisted, unrated, secured, non-convertible debentures aggregating to ₹115 crore proposed to be issued by Runwal Residency Private Limited against second ranking security of the Mall Asset and Project Land. 

Additionally, the Board approved raising a term loan of up to ₹400 crore from Bajaj Housing Finance Limited for repayment of existing indebtedness of the Trust and its SPVs, capital expenditure, and other general corporate purposes. 

Nexus Select Trust Share Price Performance  

As of February 23, 2026, at 1:43 PM, Nexus Select Trust share price on NSE was trading at ₹161.05 up by 0.07% from the previous closing price. 

Conclusion 

Nexus Select Trust has approved the acquisition of a 50% stake in Garden City Malls Private Limited for ₹434 crore, with an overall enterprise value of ₹892 crore for the Dombivli mall asset. The Board has also approved subscription of ₹115 crore in non-convertible debentures and a term loan of up to ₹400 crore from Bajaj Housing Finance Limited. 

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