Insta
SEBI Eases Fundraising Norms For Real Estate Investment Trusts, Infrastructure Investment Trusts
SEBI. (pic via Twitter)
The Securities and Exchange Board of India (SEBI) on Monday (28 September) eased the norms for fundraising by Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) in view of the pandemic.
As per the revised guidelines, REITs and InvITs can now raise funds through institutional placement, two weeks after the previous institutional placement. Earlier, they were required to have a minimum gap of six months between two institutional placements.
In two separate but similarly worded circulars, Sebi said that in view of the situation emerging out of the coronavirus pandemic, it has "granted certain relaxations for raising of equity capital" by listed REITs and InvITs. Sebi said REITs and InvITs "shall not make any subsequent institutional placement until the expiry of two weeks from the date of the prior institutional placement made pursuant to one or more special resolutions".
The SEBI has also made changes in terms of pricing of units by REITs and InvITs for preferential issues.
All allotments arising out of the approval of the same unitholders need to follow the same pricing method. For computation of the lock-in requirement, the units held by the sponsors and locked-in for three years in the past, in accordance with REIT and InvIT Regulations, shall be taken into account, SEBI noted.
(With inputs from IANS)
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
