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Guidelines for public issue of units of REITs - Amendments

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....REITs - Amendments 1. This is in continuation to SEBI circular No. CIR/IMD/DF/136/2016 dated December 19, 2016, which provided the "Guidelines for public issue of units of REITs" ("REIT Guidelines"). 2. With a view to further rationalise and ease the process of public issue of units of REITs, it has been decided to provide for following in the REIT Guidelines: a. In clause 3 of Schedule A, i.....

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.... of the merchant bankers or Alternate Investment Funds (AIFs) sponsored by the entities which are associate of the merchant bankers or FPIs other than Category III sponsored by the entities which are associate of the merchant bankers, shall apply under the Anchor Investors category." b. In clause 6 of Schedule A, i. Following proviso shall be inserted after the proviso to sub-clause (3) "Prov....

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.... process shall be done only through an electronic bidding platform provided by recognised stock exchanges. (2) An investor, intending to subscribe to a public issue, shall submit a completed bid-cum-application form to Self-Certified Syndicate Banks (SCSBs), with whom the bank account to be blocked is maintained or any of the following intermediaries: a. A syndicate member (or sub-syndicate me....

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....e electronic bid details with depository‟s records for DP ID, Client ID and PAN, by the end of each bidding day and bring the inconsistencies to the notice of SCSBs or intermediaries concerned, for rectification and re-submission within the time specified by stock exchange(s). c. Stock exchange(s) shall allow modification of selected fields viz. DP ID/Client ID or Pan ID (Either DP ID/Clie....

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