Listing and trading of units

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....changes. ^1[(2A) In the event of non-receipt of listing permission from the stock exchange(s) or withdrawal of Observation Letter issued by the Board, wherever applicable, the units shall not be eligible for listing and the InvIT shall be liable to refund the subscription monies, if any, to the respective allottees immediately alongwith interest at the rate of fifteen per cent. per annum from the date of allotment.] (3) The units of the InvIT listed in the designated stock exchanges shall be traded, cleared and settled in accordance with the bye-laws of designated stock exchanges and such conditions as may be specified by the Board. (4) The InvIT shall redeem units only by way of a buyback or at the time of delisting of units. (....

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....re;] (9) With respect to listing of publicly offered units,- (a) its units shall be mandatorily listed on the designated stock exchange(s) within twelve working days from the date of closure of the initial ^8[public] offer: Provided that this sub-regulation shall not apply if the initial ^9[public] offer does not satisfy the minimum subscription amount or the minimum number of subscribers as specified in regulation 14; (b) trading lot for the purpose of trading of units on the designated stock exchange shall ^10[consist of ^13[one unit]]. (10) Any person other than the sponsor(s) holding units of the InvIT prior to initial offer shall hold the units for a period of not less than one year from the date of lis....