In order to enable unlisted InvITs to raise further funds, it has been decided to provide a mechanism for raising of funds by unlisted InvITs through rights issue of units.
For the purpose of this circular “rights issue” shall mean an offer of units by an unlisted InvIT to the unit holders of the InvIT as on the record date fixed for the said purpose. The guidelines in respect of a rights issue of units by an unlisted InvIT are given below.
1. Conditions for issuance 2. Underwriting 3. Letter of Offer 4. Application 5. Pricing of Units 6. Timelines 7. Manner of issuance of units 8. Allotment 9. Restriction on further capital issues
About the Author
