CIRCULAR
CIR/IMD/DF/136/2016
December 19, 2016
To
All Real Estate Investment Trusts (REITs)
All Parties to REITs
All Stock Exchanges
All Merchant Bankers
Dear Sir / Madam,
Sub: Guidelines for public issue of units of REITs
1. SEBI (Real Estate Investment Trusts) Regulations, 2014 (“REIT Regulations”)provides as under:
a) Regulation 14(24) states that ‘The Board may specify by issue of guidelines or circulars any other requirements, as it deems fit, pertaining to issue and allotment of units by a REIT.’
b) Regulation 15(5) states that ‘The advertisements shall be in accordance with the offer document and any circulars or guidelines as may be specified by the Board in this regard.’
2. In line with the aforesaid Regulations, the detailed guidelines as placed at Schedule-A shall be applicable to public issue of units of REITs.
3. This Circular is issued in exercise of powers conferred under Section 11(1) of Securities and Exchange Board of India Act, 1992 read with Regulation 33 of REIT Regulations.
4. This Circular is available on SEBI website at www.sebi.gov.in under the categories “Legal Framework” and under the drop down “Circulars”.
Yours faithfully,
Richa G. Agarwal
Deputy General Manager
Investment Management Department
Tel No.022-2644 9596
Email id – richag@sebi.gov.in
Click here to download the Guidelines for public issue of units of REITs
