The Securities and Exchange Board of India (SEBI) on November 25, 2023, issued the highlights of the 203rd meeting of the SEBI Board.
The following have been approved by the SEBI Board:
• Reduction in minimum issue size in case of public issuance of Zero Coupon Zero Principal Instruments (ZCZP) by NPOs on SSE from Rs.1 Crore to Rs. 50 lakhs.
• Reduction in minimum application size in case of public issuance of ZCZP by NPOs on SSE from Rs. 2 lakh to Rs. 10,000, thereby enabling wider participation of subscribers including retail.
• The Board approved a regulatory framework for Index Providers with the objective of fostering transparency and accountability in the governance and administration of financial benchmarks in the securities market.
• The Board, inter-alia, approved amendments to SEBI (Real Estate Investment Trusts) Regulations, 2014 in order to create a regulatory framework for the facilitation of SM REITs, with an asset value of at least Rs. 50crore vis-à-vis minimum asset value of Rs. 500 crores for existing REITs. SM REITs shall have the ability to create separate scheme(s) for owning real estate assets through special purpose vehicle(s) constituted as companies.
[PR No. 27/2023]
