REIT unit issuance framework requires public offer eligibility, disclosure, dematerialised allotment, refund safeguards, and conditions for secondary sales.

Initial REIT unit offers must be public issues and require registration, minimum REIT asset value, offer size, public unitholder participation, and investor concentration limits. Draft and offer documents require due diligence, public comments, regulatory review, timely filing, and prescribed disclosures. Units must be dematerialised; pricing follows book building or another specified process; and allotment or refunds are subject to prescribed timelines. Refunds apply for insufficient subscriptions, excess applications, or inadequate public subscribers, while retained oversubscription proceeds require disclosed use and cannot fund general purposes.

---

---

---