Reit

Sebi warns investors as Strata exits SM REIT framework post legal row

Strata, with Rs 2,000 crore AUM, had not launched SM REIT schemes before surrendering its registration following Sebi discussions and legal proceedings

Mindspace Reit to raise Rs 1,800 crore through debt securities, CPs

Board committee approves Rs 1,800 crore fundraise plan via non-convertible debt and commercial papers amid rising NOI and strong leasing growth in FY25

Blackstone-backed Nexus Select's mall play: To double count in 3-4 years

Company in talks with IFC for Rs 2,000 crore green funding

Knowledge Realty posts Rs 1,632 cr NOI in H1 FY25, set to be largest REIT

Sattva Group and Blackstone sponsored Knowledge Realty Trust has posted a net operating income of Rs 1,632.38 crore in the first half of this fiscal while its asset value stood at nearly Rs 60,000 crore at September-end 2024. On Thursday, Knowledge Realty Trust (KRT) filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch its REIT public issue for raising up to Rs 6,200 crore. The company will issue units through Initial Public Offer (IPO) and list the REIT on stock exchanges as part of its strategy to monetise prime office assets across six major cities. "We own and manage a high-quality office portfolio in India, and upon listing, we will be the largest office REIT in India based on Gross Asset Value of Rs 594,450 million as of September 30, 2024 as well as by Net Operating Income (NOI) for H1, FY25 of Rs 16,323.82 million, and the second largest by NOI for 2023-24 of Rs 28,820.83 million," KRT said in theHP. The Trust said it will also be the second largest office REIT

Sebi mulls framework to fast track follow-on offer by REITs, InvITs

Markets regulator Sebi on Thursday proposed a framework for undertaking fast-track follow-on offers by REITs and InvITs to make fundraising more efficient. Additionally, the regulator has proposed a lock-in provision of three years for preferential issue of units of REITs ((real estate investment trusts) and InVITs ((infrastructure investment trusts) allotted to sponsors. The Securities and Exchange Board of India (Sebi) has sought public comments by March 13 on the proposals. In its consultation process, Sebi proposed that 15 per cent of the units allotted to sponsors and sponsor group will be locked-in for a period of three years from the date of trading approval granted for the units. Further, the remaining units allotted to them will be locked-in for a period of one year from the date of trading approval granted for the units. With regards to follow-on offer, Sebi said that the FPO is one of the mechanisms for raising funds subsequent to issue of units after initial public ...

Four listed REITs distribute Rs 1,505 crore to unitholders in Q3

The distributions rose by nearly 17 per cent from Rs 1,289 crore distributed in Q3 FY24

Mindspace REIT Q3 results: Net operating income rises 8% to Rs 522 cr

Mindspace Business Parks REIT Q3FY25 results: Company declared a distribution of Rs 315 crore for the October-December quarter

Lionel Messi holds IPO for real estate assets, portfolio valued at $232 mn

His arrival in Miami has sparked a boom in interest and business for his Inter Miami team and more broadly for MLS, the main US football league

K Raheja Investment pays Rs 68.73 lakh to settle Reit norms case with Sebi

K Raheja Investment Managers on Thursday settled with capital markets regulator Sebi a case on alleged violation of REIT rules by paying Rs 68.73 lakh towards settlement fee in the matter of Mindspace Business Parks REIT. K Raheja Investment Managers LLP (now known as K Raheja Corp Investment Managers Pvt Ltd) is the manager of Mindspace Business Parks REIT. Mindspace Business Parks REIT, sponsored by K Raheja Corp group, was listed on the Indian bourses in August 2020. It owns office portfolios in the Mumbai Region, Pune, Hyderabad, and Chennai. The settlement order came after the noticee (K Raheja Investment Managers LLP) proposed to settle the instant proceedings initiated against it, without "admitting or denying the findings of facts and conclusions of law". The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against K Raheja Investment Managers LLP for the alleged violation of the provisions of Sebi's REIT (Real Estate Investment Trusts) rules

Property Share files offer document for Rs 353 crore IPO of its SM Reit

Property Share Investment Trust (PSIT) is India's first registered small and medium real estate investment trust (SM Reit)

Listed REITs disburse over Rs 2,700 crore in H1 FY25, up 14%: IRA

A REIT owns, operates, or finances real estate properties that generate income and allows investors to invest in real estate without having to buy and manage properties directly

Sebi grants allotment exemptions for InvITs, Reits in schemes for employees

Markets regulator Sebi on Wednesday exempted InvITs and REITs from specific lock-in and allotment restrictions when issuing units to an employee benefit trust under unit-based employee benefit (UBEB) schemes. This will facilitate easier acquisition and distribution of units to employees. "In order to promote ease of doing business and to facilitate the acquisition of units by the employee benefit trust and the subsequent transfer of units to the employees as per the terms of the UBEB scheme, it is proposed that the ... lock-in and allotment related restrictions shall not apply to the employee benefit trust," Sebi said in separate circulars. Standardizing quarterly reporting format, Sebi has mandated that Bharat InvITs Association and Indian REITs Association specify a uniform format for quarterly reports and compliance certificates. These updates are to ensure that all InvITs and REITs comply with the set format, which will be publicly available on the associations' websites. Thes

Market regulator Sebi directs Embassy Reit to suspend CEO Aravind Maiya

Action after NFRA debarred Maiya for 10 years in a probe related to Coffee Day

EFC REIT obtains Sebi registration to launch SM-REIT public issue

Co-working firm EFC (I) Ltd on Wednesday said its arm EFC REIT Pvt Ltd has obtained SEBI registration for launch of Small & Medium Real Estate Investment Trust (SM-REIT) public issue. According to a statement, the company through its wholly-owned step-down subsidiary EFC REIT has obtained SEBI registration for EMBERSTONE SM REIT as an SM REIT. On October 29, 2024, SEBI granted registration to EMBERSTONE SM REIT. Accordingly, EMBERSTONE SM REIT will be eligible to make an initial offer for units of its first scheme for an amount of up to Rs 500 crore. As an investment manager of EMBERSTONE SM REIT, EFC REIT Pvt Ltd will oversee investments raised through the initial offer and manage the acquisition and operation of commercial real estate assets in terms of the REIT regulations. This development will significantly expand the EFC Group's Assets Under Management (AUM) and its managed office space portfolio across the country, positioning the company for accelerated growth. EFC's ...

Mindspace REIT's net operating income rises 5% to Rs 503 crore in Q2

REIT's net profit declined by 11.03 per cent YoY to Rs 125.63 crore, missing the Bloomberg estimate of Rs 164.1 crore

Limit small and medium Reit exposure at 5% till they develop track record

SM REITs are for investors looking to diversify

Mindspace REIT to build 1 mn sq ft data centre campus in Navi Mumbai

Mindspace Business Parks REIT will develop data centres for Princeton Digital Group in Navi Mumbai comprising 1 million square feet area. In a statement, Mindspace REIT on Wednesday said it has entered into a strategic partnership with Princeton Digital Group (PDG) to develop the latter's flagship and largest data center campus in India. The data centre will be developed at Mindspace Airoli West project in Navi Mumbai. Under this new agreement, Mindspace REIT will develop three additional built-to-suit data centers, adding a further 1 million square feet to its portfolio. The REIT has already developed 2 data centers for PDG, measuring around 0.63 million square feet. Upon completion, the business park will feature 5 data center buildings. The total data center footprint within the Mindspace REIT portfolio will stand at around 1.65 million square feet. This landmark development spanning around 15 acres will become a part of the larger 50-acre campus ecosystem of Mindspace Airoli

IRA launches three data benchmarking institutions for Reit investors

The institutions would serve as a central repository of the Indian Reit sector's data

FOPs slow to migrate under Sebi's new SM REIT norms; few registered

Industry players say lacuna in the newly-introduced platform behind low registrations

hBits aims to list first SM REITs by Q3FY25, applies for licence with Sebi

The company stated that this strategic move is part of hBits' commitment to democratising access to commercial real estate investments for retail investors across India