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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI Issues Guidelines for REITs' Rights Issuance: Board Approval, Compliance, and Merchant Banker Appointment Required.</h1> The circular outlines guidelines for the rights issuance of units by listed Real Estate Investment Trusts (REITs) as per SEBI regulations. It specifies conditions for issuance, including board approval, compliance with listing obligations, and the absence of legal disqualifications among promoters. It mandates the appointment of merchant bankers and other intermediaries, details the process for filing and publicizing the draft letter of offer, and sets rules for pricing, subscription, and allotment of units. The circular also restricts further capital issues during the rights issuance process and requires filing an allotment report with SEBI post-issuance.
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