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India's IIFL Holdings registers new REIT

Indian financial services company IIFL Holdings Ltd. registered a real estate investment trust with the Securities and Exchange Board of India.

The new entity will be called IIFL Real Estate Investment Trust, the company said in a filing, but did not provide any further details.

IIFL Holdings got approval for the proposed transfer of its real estate advisory business into another unit in September 2017. In January, the company outlined plans to reorganize its business into three listed companies for its business lines.

With the registration of IIFL REIT, IIFL Holdings joins the list of companies that aim to launch a REIT in India.