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of <h1>SEBI Updates Rules for REITs: New Restrictions on Institutional Placements and Pricing Methods Amid COVID-19.</h1> The Securities and Exchange Board of India (SEBI) has amended guidelines for preferential issues and institutional placement of units by listed Real Estate Investment Trusts (REITs) due to the COVID-19 pandemic. The amendments include a restriction on subsequent institutional placements until two weeks after a prior placement and provide a pricing method for preferential issues until December 31, 2020. Units allotted using this pricing method will be locked in for three years, and all allotments from the same unitholder approval must use the same pricing method. The lock-in computation will consider previously locked-in units by sponsors.
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