Markets regulator, SEBI on Thursday reduced the deadline for listing of Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (InvIT) units.
The regulator has halved the time taken for allotment and listing After the closure of issuance of REITs and InvITs.
For both REITs and InvITs, SEBI said, “It has been decided to reduce the time taken for allotment and listing to six working days as against the present requirement of within 12 working days.”
SEBI has directed that SCSBs, stock exchanges, depositories and intermediaries to ensure completion of listing (through public issue) and commencement of business of InvITs and REITs within six working days from the date of closure will coordinate. issue.
Notably, the provisions of the circular will be applicable to public issue of units of InvITs and REITs that open on or after June 1, 2022.
“Stock Exchanges and Self-Certified Syndicate Banks will make necessary changes to make it effective from June 01, 2022,” SEBI said.
SEBI issued the circular to protect the interest of investors in securities and to promote the development and regulation of securities markets. This circular issues with the approval of the competent authority.