REPL gets SEBI approval for small and medium REIT, to be named ImpactR SM REIT

Infrastructure consultants Rudrabhishek Enterprises Ltd (REPL) has announced that it has received approval for the Securities and Exchange Board of India (SEBI) to register a small and medium real estate investment trust (SM REIT), the second such application approved by the capital market regulator since finalising rules for the nascent segment earlier this year.

The new SM REIT, under the name ImpactR SM REIT, will have REPL as its investment manager. SEBI had earlier approved the SM REIT application submitted by fractional ownership platform Property Share, licensed under the name Property Share Investment Trust. The latter is yet to be listed on the exchanges.

"The ImpactR SM REIT will open up structured and transparent investment opportunities, making real estate accessible to a broader base of investors. With our extensive experience in real estate and urban infrastructure, we are confident this step will create a transformative impact for our stakeholders and the industry at large," said Pradeep Misra, chairman and managing director of REPL.

REPL primarily works in providing consultancy services to a range of infrastructure and real estate projects. It is listed on the small and medium-scale enterprises platform on the National Stock Exchange.