{"id":3192,"date":"2022-09-27T05:29:57","date_gmt":"2022-09-27T05:29:57","guid":{"rendered":"https:\/\/rvkassociates.com\/blog\/?p=3192"},"modified":"2022-09-27T05:30:01","modified_gmt":"2022-09-27T05:30:01","slug":"issue-and-listing-of-commercial-paper-by-listed-invits-and-by-listed-reits","status":"publish","type":"post","link":"https:\/\/rvks.in\/blogs\/issue-and-listing-of-commercial-paper-by-listed-invits-and-by-listed-reits\/","title":{"rendered":"Issue and listing of Commercial Paper by listed InvITs  and by listed REITs"},"content":{"rendered":"\n<p class=\"has-text-align-right\">September 22, 2022<\/p>\n\n\n\n<p>To<br>All Infrastructure Investment Trusts (\u201cInvITs\u201d)<br>All Parties to InvITs<br>All Recognised Stock Exchanges<br>All Depositories<br>All Merchant Bankers<\/p>\n\n\n\n<p>Madam\/Sir<\/p>\n\n\n\n<ol class=\"is-style-none wp-block-list\"><li>1. In terms of Reserve Bank Commercial Paper Directions, 2017 dated August 10,2017 InvIT having net worth of INR 100 Crore or higher are eligible to issue commercial paper.<\/li><\/ol>\n\n\n\n<ol class=\"is-style-none wp-block-list\"><li>2. It has been decided that, InvITs may issue listed commercial papers subject to the following:<ol><li>2.1. InvITs shall abide by the guidelines prescribed by Reserve Bank of India for issuances of commercial papers.<\/li><li>2.2. InvITs shall abide by the conditions of listing norms prescribed by SEBI under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 and circulars issued thereunder.<\/li><li>2.3. The issuance of listed CPs shall be within the overall debt limit permitted under SEBI (Infrastructure Investment Trusts) Regulations, 2014<\/li><\/ol><\/li><\/ol>\n\n\n\n<p>3. This circular is being issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and Regulation 33 of the  SEBI (Infrastructure Investment Trusts) Regulations, 2014. This circular is issued with the approval of the competent authority.<\/p>\n\n\n\n<p>4. This Circular is available on the website of the Securities and Exchange Board of India at www.sebi.gov.in under the category \u201cLegal\u201d and under the drop down \u201cCirculars\u201d.<\/p>\n\n\n\n<p class=\"has-text-align-right\">Yours faithfully,<br>Deena Venu Sarangadharan<br>Deputy General Manager<br>Department of Debt and Hybrid Securities<\/p>\n\n\n\n<p>Circular : <a href=\"https:\/\/www.dropbox.com\/s\/isa2p686bmswzs5\/Issue%20and%20listing%20of%20Commercial%20Paper%20by%20listed%20InvITs.pdf?dl=0\">https:\/\/www.dropbox.com\/s\/isa2p686bmswzs5\/Issue%20and%20listing%20of%20Commercial%20Paper%20by%20listed%20InvITs.pdf?dl=0<\/a><\/p>\n\n\n\n<p class=\"has-text-align-right\">September 22, 2022<\/p>\n\n\n\n<p>To<br>All Real Estate Investment Trusts (\u201cREITs\u201d)<br>All Parties to REITs<br>All Recognised Stock Exchanges<br>All Depositories<br>All Merchant Bankers<\/p>\n\n\n\n<p>Madam\/Sir<\/p>\n\n\n\n<ol class=\"is-style-none wp-block-list\"><li>1. In terms of Reserve Bank Commercial Paper Directions, 2017 dated August 10,2017 Real Estate Investment Trust (REIT) having net worth of INR 100 Crore or higher are eligible to issue commercial paper.<\/li><\/ol>\n\n\n\n<ol class=\"is-style-none wp-block-list\"><li>2. It has been decided that, REITs may issue listed commercial papers subject to the following:<ol><li>2.1. REITs shall abide by the guidelines prescribed by Reserve Bank of India for issuances of commercial papers.<\/li><li>2.2. REITs shall abide by the conditions of listing norms prescribed by SEBI under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 and circulars issued thereunder.<\/li><li>2.3. The issuance of listed CPs shall be within the overall debt limit permitted under SEBI (Real Estate Investment Trusts) Regulations, 2014<\/li><\/ol><\/li><\/ol>\n\n\n\n<p>3. This circular is being issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and Regulation 33 of the SEBI (Real Estate Investment Trusts) Regulations, 2014. This circular is issued with the approval of the competent authority.<\/p>\n\n\n\n<p>4. This Circular is available on the website of the Securities and Exchange Board of India at www.sebi.gov.in under the category \u201cLegal\u201d and under the drop down \u201cCirculars\u201d.<\/p>\n\n\n\n<p class=\"has-text-align-right\">Yours faithfully,<\/p>\n\n\n\n<p class=\"has-text-align-right\"><br>Deena Venu Sarangadharan<br>Deputy General Manager<br>Department of Debt and Hybrid Securities<\/p>\n\n\n\n<p><strong>Circular : <\/strong><a href=\"https:\/\/www.dropbox.com\/s\/rp9l6tj0vszvpb3\/Issue%20and%20listing%20of%20Commercial%20Paper%20by%20listed%20REITs.pdf?dl=0\">https:\/\/www.dropbox.com\/s\/rp9l6tj0vszvpb3\/Issue%20and%20listing%20of%20Commercial%20Paper%20by%20listed%20REITs.pdf?dl=0<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>September 22, 2022 ToAll Infrastructure Investment Trusts (\u201cInvITs\u201d)All Parties to InvITsAll Recognised Stock ExchangesAll DepositoriesAll Merchant Bankers Madam\/Sir 1. In terms of Reserve Bank Commercial Paper Directions, 2017 dated August 10,2017 InvIT having net worth of INR 100 Crore or higher are eligible to issue commercial paper. 2. It has been decided that, InvITs may [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,85],"tags":[88],"class_list":["post-3192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-circulars","category-sebi","tag-sebi"],"_links":{"self":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/3192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/comments?post=3192"}],"version-history":[{"count":1,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/3192\/revisions"}],"predecessor-version":[{"id":3193,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/3192\/revisions\/3193"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media\/2570"}],"wp:attachment":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media?parent=3192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/categories?post=3192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/tags?post=3192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}