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<h1>Rights issue procedure for REITs mandates eligibility, merchant banker oversight, disclosures, ASBA payment and allotment rules.</h1> Guidelines prescribe conditions for REIT rights issues including board resolution, pre-existing listing of same class units, in principle exchange approval, and absence of disqualifying statuses; require appointment of lead merchant banker and intermediaries with mandated due diligence; mandate filing and public posting of a draft letter of offer with prescribed disclosures and Board observations; set pricing, record date announcement, ASBA payment, dematerialised allotment and specified subscription, allotment and listing procedures; and impose restrictions on further capital issues until listing or refund, with required post-issue allotment reporting.