The time taken for listing such emerging is reduced by securities board of exchange [SEBI], where investment vehicles to six working days from the present 12 days.
The new rule will apply to a public issue of units of Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (InvIT), which opens on or after June 1, SEBI said in two separate circulars.
The move is aimed at making the existing process of issuance of such emerging investment vehicles simpler and cost-effective.
“As a part of the continuing endeavour to streamline the process of public issue of units of REIT and InvITs. It has been decided to reduce the time taken for allotment and listing after the closure of an issue to six working days as against the present requirement of within 12 working days,” SEBI said.
REITs and InvITs are relatively new investment instruments in the Indian context but are extremely popular in global markets.
As of March 2021, a total of 15 InvITs and four REITs were registered. Of these, six InvITs and three REITs were listed on the stock exchanges.
