Lock-in requirements

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..... of the third year from the date of listing of units in the initial offer, shall be as under: (a) in a scheme of the SM REIT which has opted not to undertake leverage as per disclosures in the scheme offer document filed for initial offer, the investment manager shall hold at least five per cent. of the total outstanding units at all times; (b) in a scheme of the SM REIT which has opted to undertak .....

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..... at least three per cent. of the total outstanding units in each scheme of the SM REIT, at all times, for a period of five years commencing from the sixth year of the date of listing of units in the initial offer till the end of tenth year from the date of listing of units issued in the initial offer. (4) The investment manager shall hold at least two per cent. of the total outstanding units in eac .....

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..... has received a certificate of registration pursuant to an application made under sub-regulation (1) of regulation 26N, shall not be considered for calculating the total outstanding units of the schemes of the SM REIT under this regulation. ] ************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/166 dated 08-03-2024 - statute, statutory provisions legislation, law, enactme .....

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