Page 7 - Reit

Blackstone, DLF, RMZ could take Reit route soon

DLF, India's largest developer, is looking to file for a real estate investment trust (Reit) in the current financial year, with the capital markets regulator, the Securities and Exchange Board of India (Sebi), clearing the norms for Reits on Friday."We are looking for an issue of Rs 12,000-1,4000 crore," said an executive in the company, adding that the proceeds from the issue will be used for debt repayment. "The issue should hit the market after the stake sale by our promoters."DLF promoters are looking to sell 40 per cent stake in its rental arm DLF Cyber City Developers (DCCDL) for around Rs 12,000 crore by next month and investors such as GIC and Blackstone are in the race to buy that.When contacted, DLF chief executive Rajiv Talwar said: "Sebi has sorted out most of the issues and we're looking to float an Reit soon," he said. He, however, declined to give a timeline for the issue, saying it depends on various approvals. DCCDL has 25-26 million sq ft of leased commercial space

Sebi push for Reits, offshore fund managers

Regulator proposes to ease REIT rules; allow foreign fund manager relocate India

Sebi to relax REIT, portfolio manager norms to woo investors

Aim is to make REITs more attractive to investors by allowing them to invest a large portion of funds in under-construction assets

REIT candidates work to iron out wrinkles

A REIT invests in real estate and trades on major exchanges like a stock

Blackstone, RMZ may roll out REITs first

Blackstone, with its JV partner Embassy, had looked at floating a $2-billion REIT