NEXUS 7
Nexus Select Trust’s Q2 NOI rises 8% to Rs 504 cr, consumption up 13%
Nexus Select Trust reported an 8% year-on-year increase in net operating income for the second quarter. The company's retail assets experienced a 13% rise in consumption compared to the previous year. Nexus declared a distribution of Rs 359 crore, maintaining a 100% payout to unitholders for 13 consecutive quarters. The firm is expanding its portfolio with plans to develop a Grade-A mall and hotel in Guwahati.
Nexus Select Trust Q2 net operating income rises 8 pc to Rs 504 cr
Nexus Select Trust has announced an 8% increase in its net operating income for the second quarter. The company reported a distribution of Rs 359 crore, reflecting growth in distribution per unit. Nexus Select Trust has cumulatively distributed over Rs 4,400 crore to its unitholders since its listing. The company marks its strategic entry into Northeast India with plans for a mall and hotel in Guwahati.
Capital gravitates towards income-generating assets as realty deals turn selective
India’s real estate sector recorded 24 transactions worth $705 million in the September quarter, down 76% in value year-on-year, as large-ticket deals and capital-market activity weakened. Private equity remained the biggest contributor, accounting for 79% of deal value, with investors favouring commercial assets and residential development platforms offering predictable cash flows.
Urban Company's Q2 loss triples on InstaHelp burn; CEO Bhal says ready to 'respond in full' to rivals
With competition in the instant househelp segment remaining intense, InstaHelp's post-discount average order value (AOV) fell about 12% to Rs 118 in the September quarter from Rs 134 in the June quarter. Urban Company competes with Nexus Venture Partners-backed Snabbit and General Catalyst-backed Pronto in the instant househelp segment, and both rivals have raised large sums this year.
Snabbit reports net loss of Rs 168 crore, revenue of Rs 12 crore in FY26
Backed by investors including Nexus Venture Partners, Elevation Capital and Lightspeed, the Bengaluru-based company started operations in August 2024, making FY26 its first full year of operations.
Sauce's Manu Chandra on consumer exits; Physical AI's regulation push
Sauce's Manu Chandra said he expects larger exits for investors of India's new-age consumer brands. This and more in today’s ETtech Morning Dispatch.
Snapdeal parent AceVector lists at 12% discount
AceVector'sRs 420 crore IPOcomprised Rs 287 crore in fresh capital and a Rs 133 crore offer-for-sale (OFS) component in which investors, including SoftBank, Nexus Venture Partners, and Foxconn, sold their shares.
Kiwi seeks up to $40 million as fintech steps up credit push
The proposed funding would be Kiwi's largest round after the Nexus Venture Partners and Stellaris Venture Partners-backed company raised $24 million in August last year. The round was led by Singapore-based Vertex Ventures.
Fruit seller deposited large amount of cash in bank, got income tax notice of unexplained income; won case in ITAT Bangalore for this reason
In Bangalore, Mr. Ramachandrababu found himself facing an income tax notice over unexplained cash deposits in his bank account. However, his successful appeal to the ITAT Bangalore showcased that these funds were legitimately sourced from agricultural sales. By providing land records, APMC sale bills, and bank statements, he effectively justified his claims and won the case.
ETtech Deals Digest: Ultraviolette leads weekly startup funding of $110 million
The increase was driven by Ultraviolette, which accounted for more than three-fourths of the capital raised during the week. Late-stage deals made up 77.3% of the funding, while seed-stage and early-stage rounds accounted for 14.9% and 7.8%, respectively.
Snapdeal parent AceVector’s IPO opens for subscription: Key things to know
The AceVector IPO will remain open for subscription until September 29. The companyraised Rs 189 crorefrom anchor investors on September 24. Domestic investors, including Helios Mutual Fund, Singularity Growth and Alchemy Capital, participated in the round.
NFO Insight: Motilal Oswal Nifty REITs & Realty Index Fund opens for subscription. Is now the right time to invest in realty?
Motilal Oswal Mutual Fund has launched the Nifty REITs & Realty Index Fund, which will be accepting subscriptions until October 9. This innovative fund seeks to give investors access to listed REITs and real estate firms using an index-focused strategy. Given the absence of historical performance data for new funds, experts suggest exercising caution.
Snapdeal IPO: GMP, price band among 10 things to know about AceVector public offer
AceVector, the parent company of Snapdeal, will launch its IPO on September 25 with a price band of Rs 30–32 per share. The issue comprises a fresh issue of Rs 287 crore and an OFS of up to 4.16 crore shares. The IPO will close on September 29, with the anchor book opening on September 24.
Inside Furlenco’s IPO; Moneyview investors make bank
Happy Tuesday! Furlenco is heading to Dalal Street for a potential Rs 1,200 crore IPO. This and more in today’s ETtech Morning Dispatch.
SS Retail IPO Day 2; GMP at 19%, subscribed 5.78 times; Check key details
SS Retail’s Rs 500 crore IPO entered its second day after being subscribed 5.78 times on Day 1, led by strong retail demand. The issue’s current GMP indicates a potential listing gain of around 19%.
A weekend in New Delhi: At BRICS, Modi and India provided an adroit demonstration of tactically gathering a motley crew
The recent BRICS summit hosted twenty nations, fostering debate and wide interpretation of its joint statement. This gathering served as a protest forum against global economic instability and institutional failures. India's diplomacy showcased its appeal as a stable pillar amidst geopolitical challenges. The summit highlighted crucial supply chains and commodity linkages within BRICS family countries. India's engagement demonstrates the need for intricate networks and tactical arrangements in global affairs.
Nexus Select Trust enters Northeast with Rs 1,600-crore Guwahati mall, Hyatt Regency deal
Nexus Select Trust is entering Northeast India with a Rs 1,600-crore acquisition of a 100% stake in the upcoming Galaxy Complex in Guwahati. The project will comprise a 0.5 million sq ft Grade-A mall and a 164-key Hyatt Regency hotel, strengthening Nexus’ expansion strategy across East and Northeast markets.
iPad mini, Nexus 7 (2013) prices drop in India
The Wi-Fi variant of 16GB iPad mini, the base model in tablet portfolio, is now available at Rs 15,719 via Amazon.in.
Google's Nexus 5, Nexus 7 hit Indian shores
Smartphone enthusiasts can now buy the latest Nexus 5 and the Nexus 7 in India from the Google stable in India, priced Rs 28,999 onwards.
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