EFC India Ltd to set up SM REIT

The Board of Directors of EFC (I) Limited ("the Company"), at their meeting held on Thursday, the 11th day of April, 2024 has considered and approved the proposal to incorporate an investment manager entity which sets up the Small and Medium Real Estate Investment Trusts (SM REIT) and manages assets and investments of the SM REIT and undertakes operational activities of the SM REIT in the name of "EFC REIT" or any other name as approved by the regulator.

The company approved the proposal for incorporation of a step-down subsidiary (subsidiary of whollyowned material subsidiary EFC Limited) to act as a Investment Manager to SM REIT in the name of "EFC REIT Private Limited".

The SM REIT will manage assets and investments of the SM REIT and undertakes operational activities of the SM REIT, further, act as an investment advisors, investment managers, financial consultants, management consultants and / or portfolio managers, and to render all other services as are usually rendered by investment advisers, investment managers, financial consultants, management consultants and / or portfolio managers, including support and incidental services, to clients in India; act as sponsor, asset/investment manager, trustee or beneficiary to real estate investment funds including small & medium real estate investment funds, alternative investment fund/s and do all acts in furtherance of the same.

Source : Equity Bulls

Keywords

EFCIndiaLimited InvestmentManagementCompany SMREIT