SEBI notifies disclosure requirement for REITs

sebiSecurities and Exchange Board of India (SEBI) notified financial disclosures required in Real Estate Investment Trusts (REITs) offer documents and public listing norms.

In a circular issued today, SEBI said that the offer document would comprise of financial details of past three years of all the assets involved and will also include balance sheet, statement of profit and loss, total assets, disclosure of total income and expenditure as well as complete information regarding returns.

It will also have to reveal about contingent liabilities, their earnings per unit, net worth and how much under are they in debt along with debt/equity ratios before and after the completions of issue.

Concurrently, SEBI has proposed stricter norms for restrictions on issue as compared to that of equity issuance. Provision of guidelines is another step towards listing of REITs.





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