Disclosure Norms for REITs updated: The circular revise chapters 3 and 4 of its Master Circular for Real Estate Investment Trusts (REITs). It cover the disclosure of financial information in offer documents and ongoing disclosure and compliance obligations post-listing. The revised provisions require REITs to disclose certified proforma financial statements covering at least the last completed financial year and any applicable period, particularly in cases involving recent acquisitions or divestments. Disclosures may also reference previously published financials, provided links are included. These must be audited by the seller’s auditor. (SEBI Circular dated 07/05/2025)