SEBI issues draft guidelines for realty investment trusts
The Securities and Exchange Board of India (SEBI) has pegged the initial offer size at Rs 250
crore and made listing of units mandatory for all REITs (Real Estate Investment Trusts). A minimum public float of 25% has been specified to ensure adequate public participation and float in the units.
SEBI has further said that the size of assets under REIT should not to be less than Rs 1,000 crores,
which "is expected to ensure that initially only large assets and established players enter the market". However, initially, till the market develops, SEBI has proposed that the units of the REITs may be offered only to high net worth individuals/institutions.
crore and made listing of units mandatory for all REITs (Real Estate Investment Trusts). A minimum public float of 25% has been specified to ensure adequate public participation and float in the units.
SEBI has further said that the size of assets under REIT should not to be less than Rs 1,000 crores,
which "is expected to ensure that initially only large assets and established players enter the market". However, initially, till the market develops, SEBI has proposed that the units of the REITs may be offered only to high net worth individuals/institutions.
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