Question
SEBI has allowed REITs & InvITs with net worth of
______ or higher to issue CPs.Solution
Capital markets regulator SEBI allowed emerging investment vehicles, Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (InvIT), to issue commercial papers.The move came after Reserve Bank Commercial Paper Directions approved that InvIT and REIT having net worth of at least Rs 100 crore are eligible to issue commercial paper.Thus,the capital markets regulator also allowed REITs and InvITs to issue listed commercial papers. This is subject to certain conditions, including, REITs and InvITs need to abide by the guidelines prescribed by Reserve Bank of India (RBI) for issuances of commercial papers and follow the conditions of listing norms prescribed by SEBI.The issuance of listed CPs should be within the overall debt limit permitted under the REITs and InvITs rules.
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