Under the format for compliance report on governance, Sebi said infrastructure investment trusts (InvITs) and real estate infrastructure trusts (REITs) will have to disclose the name of the investment managers, the composition of the board of directors of the investment managers as well as the composition of committees, meetings of the board of directors, along with meetings of committees, on a quarterly basis.
Real Estate Investment Trusts: In addition, the regulator has issued separate formats for the financial year that need to be submitted by the investment managers of InvITs and REITs.
Any listed REIT or InvIT with less than 25% public unitholding, which has a three-year ultimatum to adhere to, will have to increase its public holding.
Sebi Tuesday notified methods such as offer for-sale mechanism, rights issue and issuance of bonuses to unitholders of REITs and InvITs to achieve compliance with the 25% minimum public holding requirement.
Markets regulator Sebi on Tuesday provided methods such as an offer for-sale mechanism, rights issue and issuance of bonuses to unitholders of REITs and InvITs to achieve compliance with the 25 per cent minimum public holding requirement.