Reduction of timelines for the listing of units of REIT
Reduction of timelines for the listing of units of Real Estate Investment Trust (REIT)
- As a part of the continuing endeavour to streamline the process of public issue of units of Real Estate Investment Trust (REIT), it has been decided to reduce the time taken for allotment and listing after the closure of issue to six working days as against the present requirement of within twelve working days. The indicative timelines from issue closure till listing are as under.
- The SCSBs, stock exchanges, depositories, intermediaries shall co-ordinate to ensure completion of listing (through public issue) and commencement of trading of units of REIT, within six working days from the date of closure of issue.
- The provisions of this circular shall be applicable to a public issue of units of REIT under the SEBI (Real Estate Investment Trusts) Regulations, 2014 which opens on or after June 01, 2022. Stock Exchanges and Self Certified Syndicate Banks shall make required changes to implement the same from June 01, 2022.
- This circular is issued in exercise of the powers conferred under Regulation16(1) and 33 of SEBI (Real Estate Investment Trusts) Regulations, 2014 and Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets. This circular is issued with the approval of the competent authority.
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