Sebi notifies norms for public issue of REITs

Markets regulator Securities and Exchange Board of India (Sebi) on Monday put in place detailed guidelines for public issuance of Real Estate Investment Trusts (REITs) including allocation of units to institutional investors. The trusts, its promoters and directors, which have been barred from accessing the securities markets, or those who are in the “wilful defaulter” list, would not make any public issue, Sebi said in a circular.

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