The Securities and Exchange Board of India (SEBI) said in two different circulars that this is subject to certain restrictions.
Last month, Reserve Bank’s directions on Commercial Paper said that InvITs and REITs with a net worth of at least Rs100 crore are eligible to issue commercial paper.
According to the capital markets regulator, REITs and InvITs may issue listed commercial papers. This is subject to certain criteria, such as REITs and InvITs adhering to the Reserve Bank of India's (RBI) requirements for commercial paper issuances and adhering to the SEBI listing norms.
According to SEBI, the issuance of listed CPs shall be limited to the overall debt level permissible under the REITs and InvITs regulations.
Commercial Paper, or CP in market lingo, is a short-term loan instrument issued by corporations to raise capital for a period of up to one year.
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