Business Update13 Aug 2024, 02:31 pm
Aurum PropTech Subsidiary, YieldWisex Technologies, Applies for Small and Medium REIT License
AI Summary
Aurum PropTech Ltd announced that its wholly-owned subsidiary, YieldWisex Technologies Private Limited, has applied for a Small and Medium Real Estate Investment Trust (SM-REIT) named 'WiseX SM REIT' to the Securities and Exchange Board of India (SEBI). The application was made in accordance with the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014. Upon approval and receipt of the license from SEBI, WiseX SM REIT intends to operate under the new SEBI-regulated framework, offering investors opportunities to participate in sizeable, rent-yielding real estate investments.
Key Highlights
- Aurum PropTech's subsidiary, YieldWisex Technologies, has applied for an SM-REIT license named 'WiseX SM REIT'
- The application has been made in accordance with the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014
- Upon approval, WiseX SM REIT will operate under the new SEBI-regulated framework
- WiseX SM REIT aims to provide investors with opportunities in sizeable, rent-yielding real estate investments
- The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015