9911796707
TMI BlogReduction of timelines for listing of units of Real Estate Investment Trust (REIT)X X X X Extracts X X X X X X X X Extracts X X X X ..... 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: Timelines from issue closure till listing Sl. No. Details of activities Due date (working day*) 1 Issue closes T (Issue closing date) 2 * Stock exchange(s) shall allow modification of selected fields (till 11 AM) in the bid details already uploaded. * RTA to get the electronic bid details from the stock exchanges by end of the day. * Designated branches of Self Certified Syndicate Banks (SCSB) may not accept applications after T+1 day. * Syndicate members, brokers, DPs and RTAs to forward a schedule wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se the basis of allotment and submit it to the designated stock exchange for approval. * Designated stock exchange to approve the basis of allotment. * RTA to prepare funds transfer schedule based on approved basis of allotment. * RTA and merchant banker to issue funds transfer instructions to SCSBs. * Sponsor shall transfer its entire shareholding or interest or rights in the holdCo. and /or SPV or ownership of the real estate or property as disclosed in the offer document. * Manager on behalf of the REIT to initiate corporate action for credit of units of REIT to the sponsor/other shareholders of the SPVs/assets. T+3 5 * SCSBs to credit the funds in public issue account of the REIT and confirm the same. * After successful ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 4. This circular is issued in exercise of the powers conferred under Regulation 16(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. 5. This circular is available on SEBI website ..... X X X X Extracts X X X X X X X X Extracts X X X X
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