SEBI reportedly said that the proposed norms for the public issuance of REITs relate to appointment of merchant bankers, disclosures in the offer documents and filing of draft papers.
The Securities and Exchange Board of India proposed fresh norms for the public issue of Real Estate Investment Trusts (REITs), including cap of 75 per cent allocation to institutional buyers, according to reports.
SEBI reportedly said that the proposed norms for the public issuance of REITs relate to appointment of merchant bankers, disclosures in the offer documents and filing of draft papers.
The allocation in the public issue should be maximum 75 per cent to qualified institutional buyers (QIBs) and at least 25 per cent to other investors, SEBI said.
SEBI added that REITs will need to deposit, before the opening of subscription, and keep deposited with the stock exchange, an amount calculated at the rate of 0.5 per cent of the amount of units offered for subscription to the public, says report.
No comments:
Post a Comment