scorecardresearch
Wednesday, Oct 05, 2022
Premium

Listed REITs: Norms for institutional placements, preferential issue out

REITs, which primarily invest in completed, income-yielding real estate assets, are similar to mutual funds, and can be listed and traded on bourses.

sebi REITs shall not make any subsequent institutional placement till expiry of six months from the date of the prior institutional placement made pursuant to one or more special resolutions.

The Securities and Exchange Board of India (Sebi) Wednesday issued guidelines for preferential issue of units and institutional placements of units by listed real estate investment trusts (REITs). Sebi said a listed REIT can make a preferential issue of units or an institutional placements provided the issuance has the minimum listing period of 12 months.

Sebi also said listed REITs can make a preferential issue of units or institutional placements if a resolution of existing unit holders approving the issue of units in accordance with Regulation 22(6) of the REIT Regulations is passed. REITs shall not make any subsequent institutional placement till expiry of six months from the date of the prior institutional placement made pursuant to one or more special resolutions.

REITs, which primarily invest in completed, income-yielding real estate assets, are similar to mutual funds, and can be listed and traded on the stock exchanges.

Any offer or allotment through private placement shall not be made to more than 200 investors (excluding institutional investors) in a financial year. —FE

Subscriber Only Stories
Telangana plot accused had twice tried to join terror outfits abroad, sto...Premium
Split on method to name new Supreme Court judges, CJI sends 2nd note to C...Premium
MNREGA worker breaks national record in men’s 35km race walkPremium
Over-reach, will stay out, Election Commission told Supreme Court before ...Premium

First published on: 28-11-2019 at 12:16:55 am
Next Story

Forty Years Ago, November 28, 1979: Quitting Congress

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement