SEBI Update: Dematerialization of securities of Hold Cos and SPVs held by Real Estate Investment Trusts (REITs)

Regulation 14(18) of SEBI (Real Estate Investment Trust) Regulations, 2014 (“REIT Regulations”) provides that the units of REIT shall be issued only in dematerialized form to all the applicants.

It has been decided that REITs shall henceforth hold the securities of Hold Cos and SPVs in dematerialized form only. The Manager of the REIT shall ensure the same.

Further, for existing securities holdings by REITs in Hold Cos and SPVs in physical form, the Manager of the REIT is directed to dematerialize the securities of Hold Cos and SPVs of the REIT on or before June 30, 2023.

Link:https://www.sebi.gov.in/legal/circulars/may-2023/dematerialization-of-securities-of-hold-cos-and-spvs-held-by-real-estate-investment-trusts-reits-_71448.html