Khaitan & Co: Advises Nexus Select Trust on ₹1,600 Cr Guwahati Acquisition

• Nexus Select Trust acquired 100% of Galaxy Infra Creations Private Limited for approximately ₹1,600 crore.
• The acquisition includes the Galaxy Mall and Hyatt Regency Hotel, both located in Guwahati, India.
• Khaitan & Co provided comprehensive legal advice to Nexus Select Trust for this significant transaction.
• The legal counsel covered diverse areas including due diligence, REIT, debt, employment, and anti-bribery/corruption aspects.
• Nexus Select Trust is recognized as India's first publicly listed retail REIT and the largest owner of Grade-A urban consumption spaces.

This strategic move, valued at approximately ₹1,600 crore, sees the publicly listed entity expand its footprint in India's urban consumption landscape.

Nexus Select Trust has finalized a significant real estate transaction, acquiring 100% of the share capital of Galaxy Infra Creations Private Limited. This strategic move, valued at approximately ₹1,600 crore, sees the publicly listed entity expand its footprint in India's urban consumption landscape. The acquisition involves key assets in Guwahati, specifically the Galaxy Mall, a prominent retail center, and the Hyatt Regency Hotel, enhancing Nexus Select Trust's diverse portfolio.

The sellers in this substantial deal were the existing shareholders of Galaxy Infra Creations Private Limited, including Deepak Kayal, Manoj Kayal, and others. Providing comprehensive legal counsel to Nexus Select Trust for this complex Khaitan & Co Nexus Select Trust Guwahati acquisition was the esteemed law firm Khaitan & Co. Their core advisory team for the transaction included Partners Shourya Sengupta, Deepak Jodhani, and Gaurav Dasgupta, alongside Counsel Sneh Lata, Principal Associates Divyansh Joshi, Vibhav Seth, and Shreetama Chakraborty, and Senior Associates Susom Chattopadhyay and Richaa Mukhopadhyay.

The intricate nature of this ₹1,600 crore property acquisition legal advice necessitated a broad spectrum of specialized legal services from Khaitan & Co. The firm's involvement spanned critical areas, demonstrating the depth required for such a high-stakes Indian real estate M&A legal counsel. Specific teams were dedicated to various workstreams, ensuring all legal facets of the Nexus Select Trust Galaxy Infra Creations acquisition were meticulously addressed.

Key areas of legal support included due diligence, handled by Associate Prachi Chowdhary and Associate Ishika Sinha, and specialized REIT aspects, advised upon by Partners Aayush Mohata and Aparna Bagree. Debt-related matters were managed by Partner Rahul Chakraborti and Counsel Riya Agicha, while employment aspects saw input from Partner Deepak Kumar and Senior Associate Varsha Sankara Raman. Furthermore, anti-bribery and corruption (ABAC) diligence was conducted by Partner Vinay Joy and Associate Shaaryl Dsouza. Strategic insights were provided by Managing Partner Haigreve Khaitan, with execution assistance from Associate Unnati Khanna, underscoring the multi-faceted legal approach to this significant deal.

This acquisition marks a significant expansion for Nexus Select Trust, which holds the distinction of being India’s first publicly listed retail real estate investment trust (REIT). The entity is renowned for owning and operating a robust portfolio of premium shopping malls situated across major Indian cities. Its strategic focus on high-quality urban consumption spaces has positioned it as the largest owner of Grade-A assets in this category within India.

The addition of the Guwahati Galaxy Mall Hyatt Regency acquisition further solidifies Nexus Select Trust's market leadership and diversifies its asset base. This Khaitan & Co India REIT real estate deal reflects the trust's ongoing strategy to acquire and integrate high-value properties that align with its mission to provide superior retail and hospitality experiences, reinforcing its position as a dominant player in the country's evolving real estate investment trust sector.

This transaction showcases the comprehensive legal expertise required for large-scale real estate and REIT acquisitions in India, particularly involving diverse assets like malls and hotels. Lawyers advising clients on similar high-value property deals can note the various legal workstreams involved, including due diligence, REIT, debt, employment, and anti-bribery/corruption aspects, as a benchmark for structuring their own advisory services.

Source: Original reporting via Bar and Bench