New Delhi, Oct 21 (SocialNews.XYZ) The International Financial Services Centres Authority (IFSCA) has permitted global participants - REITs and InvITs - incorporated in FATF (Financial Action Task Force) compliant jurisdictions to list on the stock exchanges in GIFT IFSC.
Additionally, the authority has also permitted InvITs to raise funds through private placements also.
The twin measures have been allowed with an objective to develop the financial products and services in the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC) and is part of the regulatory framework developed for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) in the IFSC.
The REITs and InvITs registered in IFSC have also been permitted to invest in real estate assets and infrastructure projects respectively in IFSC, India and other foreign jurisdictions, which is in line with the framework provided in the global financial centres.
Moreover, the REITs and InvITs that are already listed in any of the permissible jurisdictions other than the IFSC (currently the US, Japan, South Korea, UK - excluding British Overseas Territories, France, Germany, Canada) or India have been permitted to list and trade on the recognised stock exchanges in the IFSC, subject to compliance with their respective laws of home jurisdiction.
The listing of REITs and InvITs in IFSC will be in accordance with the requirements of the stock exchanges in IFSC.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz