SEBI Notifies Relaxed Norms For Listing Of REITs And InvITs

Edited by "PTI" |  The Property Show on NDTV  |  December 1, 2016

The Securities and Exchange Board of India (Sebi) notified the REIT and InvIT regulations that allowed setting up and listing of such trusts in 2014.
The Securities and Exchange Board of India (Sebi) notified the REIT and InvIT regulations that allowed setting up and listing of such trusts in 2014.

NEW DELHI: Seeking to make them attractive options for raising capital, Sebi on Wednesday notified revised and easier regulations for REITsand InvITs.

To facilitate growth of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), the board of Sebi had approved relaxations to existing norms in September after extensive public consultations.

In this regard, the markets regulator has notified amended regulations pertaining to REITs and InvITs.

New provisions, including those related to use of funds raised by these trusts, have been introduced.

As per the revised norms, "general purposes" can include identified purposes for which no specific amount is allocated in the offer document. This will be subject to the condition that any issue related expenses will not be considered as a part of general purpose "merely because no specific amount has been allocated for such expenses in the offer document".

It has been made clear that there should be no multiple classes of units of REITs and InvITs while subordinate ones can be issued only to sponsors and its associates. This is also subject to the requirement that such subordinate units should carry only inferior voting or any other rights compared with other units.

Among others, these trusts will have to refund subscription amount along with interest to allottees in case they don't receive listing permission from the stock exchange.

"In the event of non-receipt of listing permission from the stock exchange(s) or withdrawal of observation letter issued by the board, wherever applicable, the units shall not be eligible for listing," the regulations stated.

In such cases, REITs and InvITs will have to "refund the subscription monies, if any, to the respective allottees immediately along with interest at the rate of 15 per cent per annum from the date of allotment".

The Securities and Exchange Board of India (Sebi) notified the REIT and InvIT regulations that allowed setting up and listing of such trusts in 2014.

commercial real estateInvITsreal estateREITsSEBI

3,938 thoughts on “SEBI Notifies Relaxed Norms For Listing Of REITs And InvITs”

  1. Marcelo Bielsa has led Leeds to the top of the Championship going into the international break after a brutal pre-season that saw players carry out triple sessions, often between 9am and 7pm. Leeds’ Pontus Jansson reveals Marcelo Bielsa’s squad have weight checked every morning and struggle to train if not at the right level… and he has lost four kilos from brutal fitness regime

    Reply

  2. Ray Wilkins believes Manchester United’s Champions League last-16 opponents Sevilla are equivalent to a bottom-six Premier League side and Jose Mourinho’s men should easily beat them. Sevilla are a bottom-six Premier League side, insists Ray Wilkins: ‘They shouldn’t stand in Manchester United’s way in the Champions League’

    Reply

  5. You can certainly see your expertise within the paintings you write. The world hopes for even more passionate writers like you who are not afraid to say how they believe. At all times follow your heart.

    Reply

  8. Admiring the time and effort you put into your site and in depth information you provide. It’s good to come across a blog every once in a while that isn’t the same old rehashed information. Excellent read! I’ve saved your site and I’m including your RSS feeds to my Google account.

    Reply

  9. I’m not sure why but this website is loading incredibly slow for me. Is anyone else having this issue or is it a issue on my end? I’ll check back later and see if the problem still exists.

    Reply

  23. Hi, i read your blog occasionally and i own a similar one and i was just wondering if you get a lot of spam responses? If so how do you prevent it, any plugin or anything you can suggest? I get so much lately it’s driving me crazy so any help is very much appreciated.

    Reply

  28. I just wanted to write down a brief message in order to thank you for the fantastic techniques you are giving on this website. My long internet search has finally been compensated with incredibly good content to go over with my close friends. I would assert that many of us readers actually are very much blessed to exist in a superb site with so many perfect individuals with good points. I feel truly lucky to have come across the web pages and look forward to so many more fun moments reading here. Thanks a lot once again for everything. buy viagra

    Reply

  31. Thanks for the helpful article. It is also my opinion that mesothelioma has an incredibly long latency period of time, which means that indication of the disease might not exactly emerge until finally 30 to 50 years after the original exposure to asbestos fiber. Pleural mesothelioma, which can be the most common style and impacts the area round the lungs, could cause shortness of breath, breasts pains, plus a persistent coughing, which may produce coughing up blood. viagra without a doctor prescription

    Reply

  111. Thanks a lot! I enjoy this!
    [url=https://canadianpharmacycom.com/]meds online without doctor prescription[/url] [url=https://buymodafinilntx.com/]modafinil side effects[/url] [url=https://canadianpharmacyntv.com/]canadian pharmacies[/url] [url=https://ciaonlinebuymsn.com/]drugs for sale[/url] [url=https://canadianpharmacyopen.com/]canada pharmacies online[/url] [url=https://viaonlinebuymsn.com/]viagra without doctor prescription[/url] [url=https://canadianpharmacyntv.com/]canada pharmaceutical online ordering[/url]

    Reply