The new framework, aimed at further streamlining the process, will be applicable to the public issue of units of InvIT and REIT, which opens from August 1, the market regulator said in two separate circulars.
The capital markets regulator 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 Applications of Supported by Blocked Amount (ASBA).
Separately, the regulator has decided to reduce the time taken for allotment and listing of units of privately placed InvIT after the closure of the issue to six working days as against the present requirement of 30 working days.
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