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

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Merchant Bankers Madam/Sir Sub: Amendments to guidelines 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/....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Department of Debt and Hybrid Securities Tel No.+91-22-2644 9266 Email 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.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....urther that, units allotted on a preferential basis using the pricing method set out in the first 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....