SEBI stipulates conditions to be complied with by REITs/InvITs
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- Last Updated on 24 September, 2022
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Circular No. SEBI/HO/DDHS/DDHS_Div3/P/CIR/2022/122&123, dated: 22.09.2022
Earlier, in terms of Reserve Bank Commercial Paper Directions, 2017, the RBI had notified that Real Estate Investment Trust (REITs)/Infrastructure Investment Trusts (InvITs) having a net worth of INR 100 Crore or higher are eligible to issue commercial paper. Now, the SEBI has specified some conditions subject to which the REITs/InvITs can issue commercial papers.
The conditions specified for REITs/InvITs are as follows –
(a) REITs/InvITs shall abide by guidelines prescribed by the RBI for issuances of commercial papers.
(b) REITs/InvITs shall abide by the conditions of listing norms prescribed by the SEBI under the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 and the circulars issued thereunder.
(c) The issuance of listed CPs shall be within the overall debt limit permitted under the SEBI (Real Estate Investment Trusts) Regulations, 2014 and the SEBI (Infrastructure Investment Trusts) Regulations, 2014
Click Here To Read The Full Circular
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