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Market regulator, Sebi on Thursday reduced timelines for the listing of units Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (InvIT).
The regulator has halved the time taken for the allotment and listing after the closure of the REITs and InvITs issue.
For both REITs and InvITs, Sebi said, " 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."
Sebi directed that the SCSBs, stock exchanges, depositories, and intermediaries shall co-ordinate to ensure completion of listing (through the public issue) and commencement of trading of units of InvIT and REITs, within six working days from the date of closure of the issue.
Notably, the provisions of the circular will be applicable to the public issue of units of InvIT and REITs which opens on or after June 1, 2022.
"Stock Exchanges and Self Certified Syndicate Banks shall make required changes to implement the same from June 01, 2022," Sebi said.
Sebi issued the circular to protect the interests of investors in securities and to promote the development of, and regulate the securities markets. This circular is issued with the approval of the competent authority.