The Security and Exchange Board of India (SEBI) on April 26, 2022 has issued Notification on Master Circular for Real Estate Investment Trusts (REITs).
The following has been stated namely: -
• Online Filing System For REITs - SEBI has introduced an online system for filings related for REITs. The online system can be used for application for registration, reporting and filing.
• Guidelines for public issue of units of REITs - The Manager on behalf of the REIT, shall appoint one or more merchant bankers, at least one of whom shall be a lead merchant banker and shall also appoint other intermediaries, in consultation with the lead merchant banker, to carry out the obligations relating to the issue.
• Disclosure of financial information in offer document for REITs - The offer document shall contain financial information for a period of last three completed financial years immediately preceding the date of offer document.
• Continuous Disclosures and Compliances by REITs – A REIT shall submit its half yearly and annual financial information to the Stock Exchanges.
[Notification No. SEBI/HO/DDH S/DDHS_Div3/P/CIR/2022/52]
