Sebi amends guidelines for institutional placement of units by InvITs ...Middle East

Business Standard - Economy
Sebi amends guidelines for institutional placement of units by InvITs
Sebi on Wednesday amended the guidelines for preferential issue and institutional placement of units by Infrastructure Investment Trusts and Real Estate Investment Trusts. The changes have been made after receiving feedback from stakeholders. In two separate but similarly-worded circulars issued for InvITs and REITs, Sebi has mentioned about pricing for institutional placement of units. "The institutional placement should be made at a price not less than the average of the weekly high and low of the closing prices of the units of the same class quoted on the stock exchange during the two weeks preceding the relevant date," Sebi said. According to the regulator, InvITs and REITs may offer a d

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