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

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..... ir 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 circulars SEBI/HO/DDHS/DDHS/CIR/P/2020/35 dated .....

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..... the manager of the REIT and its director or partner who is an officer in default shall, on and from the expiry of the fourth working day, be jointly and severally liable to repay that money with interest at the rate of fifteen percent per annum. II. Sub-paragraph (A) of paragraph 2 of Annexure-I of the SEBI circular dated November 27, 2019 (as amended), is modified as under: "A. Pricing of fr .....

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..... nt date" for the purpose of clauses related to preferential issue of units shall be the date thirty days prior to the date on which the meeting of unitholders is held to consider the preferential issue. Where the relevant date falls on a weekend or a holiday, the day preceding the weekend or the holiday will be reckoned to be the relevant date. b) "Relevant stock exchange" shall mean the recogni .....

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..... umber of units." III. Clause 4.1 of paragraph 4 of the SEBI circular dated November 27, 2019 (as amended), is modified as under and the explanation stands deleted: "4.1 Preferential issue of units shall not be made to any person who has sold or transferred any units of the issuer during the 90 trading days preceding the relevant date. Further, where any person belonging to the sponsor(s) or Sp .....

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..... his circular is issued with the approval of the competent authority. 4. This Circular is available on the website of the Securities and Exchange Board of India at www.sebi.gov.in under the category "Legal" and under the drop down "Circulars". Yours faithfully, Deena Venu Sarangadharan Deputy General Manager Department of Debt and Hybrid Securities Tel No.+91-22-2644 9266 Email id - deenar@s .....

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