SEBI to introduce rules for ‘follow-on offers’ by REITs and InvITs

The Securities and Exchange Board of India (SEBI) plans to introduce regulations for follow-on offers by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) to accelerate the growth for emerging investment instruments. Recently, SEBI issued regulations granting unique privileges to REIT unitholders, enabling them to appoint representatives to the boards. Moreover, the market regulator also introduced the concept of self-sponsored REITs. Additionally, it has reduced the time between issue closure and allotment from 12 to 6 working days.