Amendments to guidelines for preferential issue and institutional placement of units by a listed REIT

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....lines for preferential issue and institutional placement of units by a listed REIT 1. SEBI issued circular SEBI/HO/DDHS/DDHS/CIR/P/2019/142 dated November 27, 2019 providing guidelines for preferential issue and institutional placement of units by listed REITs ("Guidelines"). The guidelines were subsequently revised vide circular SEBI/HO/DDHS/DDHS/CIR/P/2020/35 dated March 13, 2020. 2. In view o....

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....id - [email protected] Annexure 1. Clause 2.6 of the Guidelines is modified as under: "The REIT shall not make any subsequent institutional placement until the expiry of two weeks from the date of the prior institutional placement made pursuant to one or more special resolutions." 2. After clause 2.1 and before clause 2.2 of sub-paragraph (A) of paragraph 2 of Annexure-I, the following pro....

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....t proviso shall be locked-in for a period of three years: Provided further that, all allotments arising out of the same unitholders approval shall follow the same pricing method." 3. After clause 3.1 of paragraph 3 of Annexure-I, the following explanation shall be inserted: Explanation: For the computation of the lock-in requirement, the units held by the sponsor(s) and locked-in for three y....