Sebi Exempts InvITs, REITs from Lock-in, Allotment Restrictions
By Rediff Money Desk, New Delhi Nov 13, 2024 20:50
Sebi exempts InvITs and REITs from lock-in and allotment restrictions for employee benefit schemes, simplifying unit acquisition and distribution for employees. The move aims to promote ease of doing business and operational efficiency.
New Delhi, Nov 13 (PTI) Markets regulator Sebi on Wednesday exempted InvITs and REITs from specific lock-in and allotment restrictions when issuing units to an employee benefit trust under unit-based employee benefit (UBEB) schemes.
This will facilitate easier acquisition and distribution of units to employees.
"In order to promote ease of doing business and to facilitate the acquisition of units by the employee benefit trust and the subsequent transfer of units to the employees as per the terms of the UBEB scheme, it is proposed that the ... lock-in and allotment related restrictions shall not apply to the employee benefit trust," Sebi said in separate circulars.
Standardizing quarterly reporting format, Sebi has mandated that Bharat InvITs Association and Indian REITs Association specify a uniform format for quarterly reports and compliance certificates.
These updates are to ensure that all InvITs and REITs comply with the set format, which will be publicly available on the associations' websites.
These measures are aimed at promoting operational efficiency, transparency, and consistency across the infrastructure investment trust (InvIT) and real estate infrastructure trust (REIT) sectors.
REITs allow investors to pour funds in commercial real estate options, while the InvIT provides the option of investing in a portfolio of infrastructure assets.
This will facilitate easier acquisition and distribution of units to employees.
"In order to promote ease of doing business and to facilitate the acquisition of units by the employee benefit trust and the subsequent transfer of units to the employees as per the terms of the UBEB scheme, it is proposed that the ... lock-in and allotment related restrictions shall not apply to the employee benefit trust," Sebi said in separate circulars.
Standardizing quarterly reporting format, Sebi has mandated that Bharat InvITs Association and Indian REITs Association specify a uniform format for quarterly reports and compliance certificates.
These updates are to ensure that all InvITs and REITs comply with the set format, which will be publicly available on the associations' websites.
These measures are aimed at promoting operational efficiency, transparency, and consistency across the infrastructure investment trust (InvIT) and real estate infrastructure trust (REIT) sectors.
REITs allow investors to pour funds in commercial real estate options, while the InvIT provides the option of investing in a portfolio of infrastructure assets.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Srestha Finvest
- 0.66 (+ 3.13)
- 52302633
- Vodafone Idea L
- 7.25 ( 0.00)
- 22381872
- Suzlon Energy Ltd.
- 62.37 (+ 5.00)
- 19753676
- AvanceTechnologies
- 0.95 ( -4.04)
- 18908878
- Standard Capital
- 1.05 (+ 5.00)
- 13415932
MORE NEWS
ReNew Energy Profit Jumps 31% in Q2 to Rs 440...
ReNew Energy Global Plc reported a 31% rise in net profit to Rs 493.9 crore in the...
India-UK FTA Talks Resume: Bridging Gaps for Deal
India and UK will resume FTA talks in 2024, aiming to bridge remaining differences and...
India's GDP Growth to Slip to 6.5% in Q2 FY25:...
Icra forecasts India's GDP growth to slow to 6.5% in Q2 FY25 due to heavy rains and...