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Listing IndiaREIT Funds on Domestic and Offshore Exchanges
- 3. Listing Domestic Fund Scheme I August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd. Domestic Investors Board of Directors IndiaREIT Advisory (AMC) SPV 1 SPV 3 SPV 2 IndiaREIT Fund Domestic Scheme I IL& FS (Trustee) Fund registered as Venture Capital Fund with SEBI Domestic Investors Special Purpose Vehicle is the company floated by Developer for a particular development project. The Fund buys equity stake in this SPV and get returns. Promoter Ajay Piramal Part of Controls
- 5. Pros and Cons of Listing August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
- 6. SEBI and BSE Norms As per SEBI VCF regulation, units of VCF can be listed after 3 years but there are no further guidelines given by SEBI about the listing of VCF units. IndiaREIT Domestic Scheme –I could be the first VCF units to be listed on BSE August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
- 10. Listing Offshore Fund Scheme I IndiaREIT Offshore Fund Class B IndiaREIT Investments IndiaREIT Fund Scheme II Investee Companies Investee Companies August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd. Mauritius India Class A Class C
- 12. Stock Exchanges August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
- 13. Compare Listing Regulation August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd. *** - Data not available
- 14. AIM Regulation - Summary August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
- 18. Admission Document August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
- 19. Continuous Obligation August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
- 20. Continuous Obligation (cont’d) August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
- 23. Next Steps IndiaREIT Offshore Fund Class B Company in Tax haven Identifying tax haven country to setup company which will be listed on AIM IndiaREIT Investments IndiaREIT Fund Scheme II Investee Companies Investee Companies August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd. Tax haven Mauritius India Class A Class C List Mauritius Company “IndiaREIT Offshore Fund” on AIM OR
- 25. Company Setup Norms August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
- 26. Taxation August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
- 27. Fee Structure August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
- 28. Next Steps IndiaREIT offshore Fund Class B Company in Tax haven IndiaREIT investments INDIAREIT Fund Scheme II Investee Companies Investee Companies Merge Mauritius company with new company so that existing shareholders can trade on AIM August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd. Tax haven Mauritius India Class A Class C
- 33. Thank You August 16, 2009 IndiaREIT Fund Advisors Pvt. Ltd.
Editor's Notes
- August 16, 2009
- August 16, 2009 Reasons for Listing Exit Option to Existing investors
- August 16, 2009
- August 16, 2009 Prohibition on listing No venture capital fund shall be entitled to get its units listed on any recognized stock exchange till the expiry of three years from the date of the issuance of units by the venture capital fund. As per SEBI VCF regulation, units of VCF can be listed after 3 years but there are no further guidelines given by SEBI about the listing of VCF units. BSE Norms BSE have no guidelines for listing of VCF units and no VCF units has been listed till date.
- August 16, 2009 Reasons for Listing Exit Option to Existing investors
- August 16, 2009
- Overview Portfolio value down 30%* from 30 September 2008 at £529 million (30 September 2008: £760 million, 31 March 2008: £810 million). Underlying INR valuation of portfolio down 41%** to INR 38.6 billion as at 31 March 2009 from INR 65.1 billion as at 30 September 2008(1). At 31 March 2009 Reported NAV per share(2) at 67.8p. Adjusted NAV per share(2) at 85.7p. (137.1p at 30 September 2008 and 151.1p at 31 March 2008). Financing of c.£300 million (including £220 million of debt facilities) secured to fund the cost of c.£280 million for the area currently under construction. Rent has commenced from approximately 915,000 sq. ft. with an annualised rental inflow of approximately £5 million.
- Overview Portfolio value down 30%* from 30 September 2008 at £529 million (30 September 2008: £760 million, 31 March 2008: £810 million). Underlying INR valuation of portfolio down 41%** to INR 38.6 billion as at 31 March 2009 from INR 65.1 billion as at 30 September 2008(1). At 31 March 2009 Reported NAV per share(2) at 67.8p. Adjusted NAV per share(2) at 85.7p. (137.1p at 30 September 2008 and 151.1p at 31 March 2008). Financing of c.£300 million (including £220 million of debt facilities) secured to fund the cost of c.£280 million for the area currently under construction. Rent has commenced from approximately 915,000 sq. ft. with an annualised rental inflow of approximately £5 million.