SEBI makes changes in regulations to facilitate growth in InvITs, REITs
DSIJ Intelligence / 19 Sep 2017
In a bid to facilitate the growth of infrastructure Investment Trust (InvITs) and Real Estate Investment Trust (REITs) board meeting, the Securities Exchange Board of India took a decision to approve changes in the captioned regulations
In a bid to facilitate the growth of infrastructure Investment Trust (InvITs) and Real Estate Investment Trust (REITs) board meeting, the Securities Exchange Board of India took a decision to approve changes in the captioned regulations, the market regulator announced in a press release on Monday.
The changes in the captioned regulations will allow REITs and InvITs to raise debt capital securities, introduce the concept of Strategic Investor for REITs on similar lines of InvITs, allow single asset REIT on similar lines of InvIT, allow REITs to lend to underlying Holdco/SPV and also amend the definition of valuer for both REITs and InvITs.
The board of the market regulator will further have a consultation with the stakeholders on the proposal of allowing REITs to invest at least 50% of the equity share capital or interest in the underlying Holdco/SPVs, and similarly allowing Holdco to invest with at least 50% of the equity share capital or interest in the underlying SPVs, according to the referred press release issued by SEBI.
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