S&R Associates represented Select Infrastructure ("SIPL") and its shareholders in the (1) sale of 100% of its equity shares to Nexus Select Trust (the “Retail REIT”), India’s first retail real estate investment trust (sponsored by Blackstone) in exchange for allotment of units aggregating to INR 37.81 billion in the Retail REIT to the shareholders of SIPL, (2) purchase of 21% equity share capital of Nexus Select Mall Management, the manager of the Retail REIT, for INR 31.52 million by certain members of the Select Infrastructure group, and (3) offer for sale of 9.60 million units aggregating to INR 960 million by certain members of the Select Infrastructure group in the INR 32 billion initial public offering by the Retail REIT.
The S&R team was led by partners Sandip Bhagat, Mohit Gogia and Pratichi Mishra, and associates Meher Mehta, Vinayaditya Reddy, Stuti Dhundia, Anmol Kanodia and Pranshu Gupta on corporate and capital markets matters; and Simran Dhir, head of competition practice, counsel Akshat Kulshrestha and associate Samali Verma on competition law matters.