Photo: Hindustan TimesMumbai: On 18 July, India’s capital markets regulator unveiled yet another set of proposals for real estate investment trusts (REITs). Yet, the regulator’s failure at times to read the pulse of the market has led to delays in the development of some key products, market participants say. In May 2009, two real estate developers—Housing Development & Infrastructure Ltd (HDIL) and Kumar Housing Corporation Ltd—came forward and sought Sebi’s permission to float REMFs. A year has passed since the regulations were unveiled, yet the market is yet to see a single municipal bond listing. “There are very few investors in corporate bond market and they are tightly knit with little trading mentality.

Source: Mint August 23, 2016 20:03 UTC