Reduction of timelines for listing of units of Real Estate Investment Trust (REIT)

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..... t (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: 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 .....

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..... the shares of SPV. T+1 3 Manager on behalf of REIT, merchant banker and RTA to submit relevant documents to the stock exchange(s) except listing application, allotment details and demat credit and refund details for the purpose of listing permission. SCSBs to send confirmation of funds blocked (final certificate) to the RTA by end of the day. RTA shall reconcile the compiled data received from the stock exchange(s) and all SCSBs. RTA to undertake Technical Rejection test based on electronic bid details and prepare list of technical rejection cases. Transfer of shares from Sponsor Demat a/c to Trust Demat .....

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..... ment details with designated stock exchange(s) and confirm all formalities are complete except demat credit. RTA to send bank-wise data of allottees, amount due on units allotted, if any, and balance amount to be unblocked to SCSBs. T+4 6 RTA to receive confirmation of demat credit from depositories. Manager and RTA to file confirmation of demat credit and issuance of instructions to unblock ASBA funds, as applicable, with stock exchange(s). The merchant banker(s) shall ensure that the allotment, credit of dematerialised units of REIT and unblocking of application monies, as may be applicable, are done electronically. Mana .....

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