Daily Brief India: Nexus Select Trust, Pando, Blu-Smart Mobility Pvt , Coldspace Agrotech, Adani Ports & Special Economic Zone and more

• Nexus Select Trust (NST IN), a consumption centre REIT, is seeking to raise up to Rs32 billion (US$392 million). The offer opens from 9-11 May. 
• We previously discussed the IPO in Nexus Select Trust IPO: The Investment Case. NST is sponsored by Blackstone Group (BX US). 
• Our valuation analysis suggests that the IPO price range is attractive. Therefore, we would participate in this IPO. 

• Reliance on ecommerce has intensified within the past few years, but the pandemic, geopolitical tensions and government restrictions have disrupted the global supply chain.

• Over the course of a decade, companies are expected to see losses equal to nearly half of what they make in a year.

• US- and India-based Pando is looking to solve this issue and has raised funding to help it do so.

• The use of electric vehicles (EVs) is on the rise in various parts of the world, including India.

• In recent years, companies have been racing to accelerate the adoption of the electrified tech in the country.

• BluSmart Mobility, for instance, provides a ride-hailing service with 3,500 EVs operating in Delhi and Bengaluru. The company is also developing an EV charging hub infrastructure.

• Coldspace, an Indonesian integrated cold chain solutions provider, today announced the completion of a US$3.8 million seed funding round
• With this funding, Coldspace plans to expand its service capacity, including greater capacity for cold storage, reefer trucks, fulfilment, and geographic expansions
• The company offers businesses and consumers cold storage facilities and reefer trucks through its own inventory as well as a third-party aggregated marketplace of cold chain partners empowered through the company’s tech stack.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• Adani Ports & Special Economic Zone