Sebi Notifies Final Rules for REITs
Mumbai: The Securities and Exchange Board of India (Sebi) on Friday notified the final rules for setting up of real estate investment trusts (REITs) and infrastructure investment trusts.
The notification comes after the capital market regulator last month said REITs should operate with an asset pool of at least Rs 500 crore ($81.8 million) and have an initial issue size of at least Rs 250 crore for shareholders.
REITs and infrastructure investment trusts are listed entities that mainly invest in income-producing assets, the earnings of which are mostly distributed to their shareholders.
They generally get special tax treatment.
($1 = 61.1400 rupees)
Copyright @ Thomson Reuters 2014
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