Nexus Select Trust acquires MBD Complex in Ludhiana

The Nexus Select Trust has completed the acquisition of the MBD Complex in Ludhiana. The transaction was executed at a total enterprise value of Rs 531 crore, which includes a purchase consideration of Rs 490 crore, associated stamp duty of Rs 10 crore, closing costs and a provision for planned capital expenditure — covering hotel renovations, mall upgrades, etc.

The urban centre spans approximately 0.3 million square feet and includes a mall and a hotel. As Ludhiana continues to evolve into a key retail hub in North India, this acquisition reinforces Nexus Select Trust’s strategic expansion into high-growth urban centres.

In a press release, Dalip Sehgal, executive director and chief executive officer at Nexus Select Trust, said, “We are pleased to announce the successful completion of our second acquisition since listing — MBD Complex. With a strong presence already established in Chandigarh and Amritsar, this addition strengthens our portfolio and deepens our roots in a strong consumption-driven market.”