Reit

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

Hindenburg Research allegations baseless and misleading, says Reit lobby

Says Sebi developments having market-wide benefits

Property Share becomes first FOP; gets Sebi license for small, medium REIT

Property Share, which facilitates fractional ownership of commercial assets, on Friday said it has received the Small and Medium Real Estate Investment Trust (SM REIT) license from market regulator SEBI. In a statement, the company said it has "become the first fractional ownership platform (FOP) to receive the Small and Medium Real Estate Investment Trust (SM REIT) license from the Securities and Exchange Board of India (SEBI)". The license has been given by the SEBI under the newly notified SM REIT regulations under the name of Property Share Investment Trust (PSIT). Property Share will become the investment manager of PSIT. In 2022, Property Share raised Rs 347 crore in a Series B round from WestBridge Capital. "We look forward to continue working closely with SEBI in launching the IPO (Initial Public Offer) of the first SM REIT scheme in the weeks to come," said Kunal Moktan, Co-Founder of Property Share.

Mindspace REIT Q1FY25 results: Net operating income up 9 % to Rs 496 cr

Mindspace Business Parks REIT on Tuesday reported a 9 per cent increase in net operating income to Rs 496 crore in the first quarter of this financial year and declared distribution of nearly Rs 300 crore to unitholders for the latest April-June period. According to a regulatory filing, the company's revenue from operations rose 11 per cent to Rs 620 crore during April-June 2024, from Rs 560 crore in the year-ago period. Net Operating Income (NOI) increased 9 per cent to Rs 496 crore, from Rs 455 crore a year-ago, while distribution grew 5 per cent in the reported quarter to Rs 299 crore, from Rs 285 crore in the year-ago period. "We have had yet another great quarter, renting out over 1 million square feet and achieving a remarkable committed occupancy of 91.1 per cent. Our NOI grew by a robust 9.2 per cent driven by our rising rents and growing occupancy," Ramesh Nair, Chief Executive Officer, K Raheja Corp Investment Managers Pvt Ltd, Manager to Mindspace REIT said. This healthy

Sebi amends investment rules; lays framework for employment benefit scheme

Capital markets regulator Sebi came out with a framework for a unit-based employment benefit scheme for investment trusts -- REITs and InvITs. Under the framework, Sebi has prescribed the manner of the implementation of the scheme through a trust, the manner of receiving units by the employee benefit trust and the manner of allotment of units to the employee benefit trust by REIT (Real Estate Investment Trust) and InvIT (Infrastructure Investment Trust). In two separate notifications, Sebi said the 'unit-based employee benefit scheme' would be in the nature of the employee unit option scheme. Employee unit option scheme refers to a scheme under which the investment manager grants unit options to its employees through an employee benefit trust. The implementation of the scheme would be done through a separate Employee Benefit Trust (EB Trust) which can be created by the manager of a REIT or the investment manager of InvIT. The units held by EB Trust would be used only for the limite

Sebi invites public inputs on proposed changes to REIT, InvIT rules

Capital markets regulator Sebi on Tuesday said it has sought public views on the proposed amendments to the master circulars for REITs and InvITs. In a consultation paper, Sebi said these amendments will provide clarity on the nomination rights of directors to the boards of REIT (Real Estate Investment Trusts) and InvIT (Infrastructure Investment Trusts) managers. In the proposed amendments, the markets watchdog has addressed market participants' requests for clarification on the rights of unitholders to nominate a director to the board of the investment manager or manager of REITs and InvITs. The changes propose that the restriction on nominating a unitholder nominee director will not apply if the right to appoint a nominee director is available as per the Sebi (Debenture Trustees) regulations. Under the current norms, a unitholder holding a significant portion of units in an InvIT or REIT has the right to nominate a director, provided their unitholding exceeds a specified ...

Mindspace becomes first Indian REIT to issue sustainability-linked bonds

Mindspace Business Parks REIT raises Rs 650 crore from the World Bank's International Finance Corporation

New kid on the block: Real estate FOPs ready to roll out bit-sized Reits

Sebi's push for SM REITs has the potential to regularise underlying real estate assets to the tune of over Rs 4,000 crore in the near to mid-term, believes Colliers a real-estate consultant

Mindspace REIT Q4 results: Net operating income up 9% to 477 crore

Mindspace Business Parks REIT on Tuesday reported 9 per cent growth in net operating income (NOI) to Rs 476.8 crore and declared distribution of Rs 282.9 crore to unitholders for March quarter FY24. According to a regulatory filing, the company's NOI grew 12 per cent to Rs 1,895.9 crore in 2023-24. Cumulatively, it has declared distribution of Rs 1,136.2 crore to unitholders for last fiscal year. Ramesh Nair, Chief Executive Officer, K Raheja Corp Investment Managers Pvt Ltd, Manager to Mindspace REIT said, We had a record quarter, leasing 2 million square feet, making this our top-performing quarter since going public." "Our committed occupancy now stands at 90.6 per cent. With ongoing expansion projects totalling 4.4 million square feet, future development of 2.5 million square feet and potential leasing of 2.4 million square feet vacant area, we are positioned for significant NOI growth." Mindpsace REIT said its committed occupancy stood at 90.6 per cent. Cumulative leasing for