SEBI modifies guidelines on preferential issue and institutional placement of units by a listed REIT/InvIT
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- 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.
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