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    <title>Issue and allotment of units</title>
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    <description>Regulation 14 requires a REIT to be registered and to meet minimum asset, offer-size and public-holding conditions before making an initial public offer; non-compliance may be addressed by a binding pre-allotment agreement with mandated disclosures. Draft offer documents filed through a merchant banker must be hosted for public comment and accompanied by a lead merchant banker due diligence certificate; the Board may require modifications which must be addressed before filing the offer document with stock exchanges. The regulation prescribes timelines, dematerialised issuance, book-building pricing, minimum subscription rules, proportional allotment, refund triggers, manager liability for delayed allotment/listing/refund, holding-period conditions for offers for sale, and limits on general-purpose proceeds.</description>
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    <pubDate>Thu, 27 Dec 2018 18:11:53 +0530</pubDate>
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      <title>Issue and allotment of units</title>
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      <description>Regulation 14 requires a REIT to be registered and to meet minimum asset, offer-size and public-holding conditions before making an initial public offer; non-compliance may be addressed by a binding pre-allotment agreement with mandated disclosures. Draft offer documents filed through a merchant banker must be hosted for public comment and accompanied by a lead merchant banker due diligence certificate; the Board may require modifications which must be addressed before filing the offer document with stock exchanges. The regulation prescribes timelines, dematerialised issuance, book-building pricing, minimum subscription rules, proportional allotment, refund triggers, manager liability for delayed allotment/listing/refund, holding-period conditions for offers for sale, and limits on general-purpose proceeds.</description>
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      <pubDate>Thu, 27 Dec 2018 18:11:53 +0530</pubDate>
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