There are expectations that the budget will focus on the inclusion of policy changes, provide higher allocations to areas that expedite the implementation of reforms, and permit the inclusion of diverse funding avenues.
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SEBI has introduced a framework for issuance of subordinate units to bridge valuation gap and protect unitholders interests. Subordinate units can be issued to sponsors with inferior rights and require 75% unitholder approval. Maximum issuance capped at 10% of outstanding units. Uniform voting and distribution rights for all subordinate units. SEBI clarifies computation of net distributable cash flows, requiring distribution of at least 90% to unitholders. C
Real Estate Investment Trusts: According to data compiled by Prime Database.com, REITs and InvITs collectively raised Rs 11,474 crore in 2023 compared to a record low amount of Rs 1,166 crore clocked in 2022.
Sebi, in a consultation paper issued on Wednesday, has also made suggestions related to changes in terms and conditions of the subordinate units by the Real Estate Investment Trusts (REITs) or Infrastructure Investment Trusts (InvITs) post-issuance.