Rights issue by unlisted InvITs: framework for offering units to existing unitholders with prescribed approvals, disclosures and allotment rules. Rights issue by unlisted InvITs permits offering units to existing unitholders only after investment manager board approval, issuance of the same class of units, and absence of disqualifying sponsor/trustee/manager conditions. The investment manager must determine and disclose the issue price before the record date, file and distribute a letter of offer with specified Schedule III disclosures, credit rights entitlements in demat accounts with renunciation rights, allot units in dematerialized form under prescribed priority and minimum allotment rules, and file an allotment report with the Board post-issue.