Vanguard buys 11.4 mn units of Nexus Select Trust for Rs 158 cr
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Investment management firm Vanguard Group on Wednesday bought more than 11.4 million units in REIT firm Nexus Select Trust for ₹158 crore through open market transactions, while Morgan Stanley sold its stake in the company. Nexus Select Trust is India's first real estate investment trust (REIT) backed by retail properties. According to the bulk deal data available on the National Stock Exchange, the US-based Vanguard Group purchased 1,14,50,476 units, amounting to a 0.75% stake in Nexus Select Trust. The units were picked up at an average price of ₹138.42 apiece, taking the transaction value to ₹158.49 crore. Meanwhile, Morgan Stanley Asia Singapore disposed of 7.84 million units of the REIT firm at an average price of ₹138.33 per piece, taking the deal value to ₹108.47 crore.Details of other sellers of the REIT firm's units could not be ascertained.Additionally, Morgan Stanley Asia Singapore also purchased 3,003 units of Nexus Se...