by Mishika Chawla
SEBI On Public Issue Of REITs Norms
In 2014, Securities Exchange Board of India (SEBI) notified SEBI REITs Regulations towards regulating investments in REITs. However, investors are anticipating more positive measures to spring up.
In a step towards promoting the setting up of REITs, SEBI on Monday stated guidelines as per which Real Estate Investment Trusts (REITs) can raise funds through a public issue. This comprises allocation of units made to institutional investors.
It said that the public issue will not be made by the trusts that are included in the 'wilful defaulter' list or the ones that have been prohibited to access the securities markets.
Important norms as stated by SEBI:
"The manager on behalf of the REIT shall make prompt, true and fair disclosure of all developments taking place between the date of filing offer document with the board and the date of allotment of units which may have a material effect on the REIT, by issuing public notices," the regualtor has reportedly said.