IIFL Holdings registers REIT with Sebi
Financial services firm IIFL Holdings Ltd said that it has registered a real estate investment trust (REIT) with the markets regulator Securities and Exchange Board of India (Sebi). REITs are entities that primarily invest in leased office and retail assets, allowing developers to raise funds by selling completed, rent-yielding buildings to investors. IIFL did not disclose details about its plans yet.
With its plans to launch REITs, IIFL joins real estate developers and investors such as Embassy Group and Blackstone Group Lp, who have planned to raise capital through this route.
IIFL, through its wealth and asset management business IIFL Investment Managers, manages several investments in real estate, across commercial and residential real estate properties.