SEBI publishes norms for public issue of units and disclosures to be made by REITs

SEBI publishes norms for public issue

The Securities and Exchange Board of India (SEBI) (Real Estate Investment Trusts) Regulations, 2014 (REIT Regulations) notified on 26 September 2014, provided a regulatory framework for registration and regulation of Real Estate Investment Trusts (REITs) in India.

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The Securities and Exchange Board of India (SEBI) (Real Estate Investment Trusts) Regulations, 2014 (REIT Regulations) notified on 26 September 2014, provided a regulatory framework for registration and regulation of Real Estate Investment Trusts (REITs) in India. The REIT Regulations, inter alia, prescribe conditions for making a public offer, initial and continuous disclosures, investment conditions, unit-holder approval requirements, related party disclosures, etc.

Recently, SEBI issued the following circulars providing detailed requirements for REIT with respect to:

  • Public issue of units of REITs (CIR/IMD/DF/136/2016 dated 19 December 2016)   
  • Disclosure of financial information in an offer document of a REIT (CIR/IMD/DF/141/2016 dated 26 December 2016), and
  • Disclosure of financial and non-financial information to be submitted to the stock exchanges and required compliances on a continuous basis by a REIT
    (CIR/IMD/DF/146/2016 dated 29 December 2016).

This issue of IFRS Notes provides an insight into the requirements of the above mentioned SEBI circulars.

To access the text of the SEBI circulars on:

  • Guidelines for public issue of units of REITs, please click here.
  • Disclosure of financial information in offer document for REITs, please click here.   
  • Continuous disclosures and compliances by REITs, please click here.

 

 

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