SEBI modifies guidelines on preferential issue and institutional placement of units by a listed REIT/InvIT
- News|Blog|Company Law|
- < 1 minute
- By Taxmann
- Last Updated on 30 September, 2022
Circular no. SEBI/HO/DDHS/DDHS_Div3/P/CIR/2022/129 & 130, dated: 28.09.2022
The SEBI has modified the guidelines for the preferential issue and institutional placement of units by a listed REIT/InvIT. As per the modification, an allotment of units can be made to the sponsor for un-subscribed portion in the institutional placement where at least 90% of the issue size has been subscribed. Further, the object of the issue is the acquisition of assets from that sponsor and approval of unitholders has been taken for unsubscribed portion being allotted to the sponsor.
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied