Sebi gives UPI payment option to invest in public issues of REITs, InvITs

New Delhi: Retail investors can now apply in the public offering of REITs and InvITs for a payment of up to Rs 5 lakh via the UPI, or unified payments interface, mechanism, capital markets regulator Sebi on Friday.

The Securities and Exchange Board of India (Sebi) stated in two separate circulars that the new framework, which aims to further streamline the procedure, will be applicable to public issue of units of Infrastructure Investment Trust (InvIT) and real estate investment trust (REIT), which opens on August 1.

The sebi in January 2019 laid down the process for payment for applications in the public issue of units of these new investment instruments through the facility of  ASBA (Applications Supported by Blocked Amount) In addition, Sebi has decided to reduce the time taken for allotment and listing of units of privately placed InvIT after the closure of the issue to 6 working days.

Further, the merchant banker needs to make sure that the process of additional payment mechanism through Unified Payments Interface (UPI) is disclosed in the offer document and all the newspapers where the issue advertisement is disclosed.

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