India unveils new measures to boost its equity market

摘要

The securities and exchange board of india announced measures during the weekend before last to expand the country's equity market. It issued final rules for real estate investment trusts and new rules for infrastructure investment trusts (InvITs), and also issued rules to broaden the mechanism to sell shares through the offer-for-sale method on local stock exchanges. The market regulator says REITs and InvITs should have minimum assets of Rs5bn (US$82m) and their IPOs should not be less than Rs2.5bn. In the draft regulations, Sebi had said the REITs should have assets of at least Rs10bn. REITs can also only invest in commercial real estate. The trusts cannot borrow more than 49% of their assets and any debt above 25% will reauire a credit ratine, the resulator said.