REITs’ mandatory minimum sponsor(s) & sponsor group(s) holding now reduced to 15% from 20%
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- Last Updated on 11 November, 2022
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Notification No. SEBI/LAD-NRO/GN/2022/100, Dated 09.11.2022
SEBI has notified the Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2022. Amendment has been made to regulation 11(3), which prescribes for Rights and responsibilities of sponsor(s) and sponsor group(s). Now, only 15% of the total units of the REIT after initial offer on a post-issue basis shall be held by the sponsor(s) and sponsor group(s). Also, the sponsor(s) and sponsor group(s) shall continue to be liable to the REIT, trustees and unit holders for all acts. Earlier, it was mandatory for sponsor(s) and sponsor group(s) to collectively hold a minimum of 25% of the total units of the REIT after initial offer on a post-issue basis.
Click Here To Read The Full Notification
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