The Securities and Exchange Board of India (SEBI) in its meeting on Saturday took steps to popularise new investment vehicles like REITs and InvITs.
- It has allowed mutual funds (MFs) to invest up to 10 percent of Net Asset Value (NAV) in Real Estate Investment Trust (REITs) and Infrastructure Investment Trust (InvITs) using multiple schemes and 5 percent using single scheme, said sources to CNBC-TV18.
- The market regulator has categorised REITs and InvITs as alternative securities.
- Sebi also issued new advertising code for mutual funds, allows celebrity endorrsements for MFs at industry level with prior approval.
- It has approved reduction of broker fees by 25 percent from Rs 20 crore turnover to Rs 15 crore turnover.
- Now, unlisted companies can merge with listed companies if it is listed on exchange and if it has nationwide trading terminals, as per SEBI.
- Market participants can pay through digital mode like RTGS, NEFT.
- Excessive delay in settlement of payment dues may attract interest.