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(SEBI) Guidelines for Public Issue of Units of REITs

SEBI Circular No. CIR/IMD/DF/136/2016 dated December 19, 2016 (Circular to all Real Estate Investment Trusts (REITs), all Parties to REITs, all Stock Exchanges and all Merchant Bankers)

1. SEBI (Real Estate Investment Trusts) Regulations, 2014 (“REIT Regulations”)provides as under:
a) Regulation 14(24) states that ‘The Board may specify by issue of guidelines or circulars any other requirements, as it deems fit, pertaining to issue and allotment of units by a REIT.’
b) Regulation 15(5) states that 'The advertisements shall be in accordance with the offer document and any circulars or guidelines as may be specified by the Board in this regard.’

2. In line with the aforesaid Regulations, the detailed guidelines as placed at Schedule-A shall be applicable to public issue of units of REITs.

3. This Circular is issued in exercise of powers conferred under Section 11(1) of Securities and Exchange Board of India Act, 1992 read with Regulation 33 of REIT Regulations.

The Schedule-A along with Annexures thereto are available in the circular - link

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