LISTING AND TRADING OF UNITS :

1. After the initial offer it shall be mandatory for all units of REITs to be listed on a recognized stock exchange having nationwide trading terminals within a period of 12 working days from the date of closure of the offer.

2. The listing of the units of the REIT shall be in accordance with the listing agreement entered into between the REIT and the designated stock exchange.

3. The units of the REIT listed in recognized stock exchanges shall be traded, cleared and settled in accordance with the bye-laws of concerned stock exchanges and such conditions as may be specified by SEBI.

4. Trading lot for the purpose of trading of units of the REIT shall be one lakh rupees.

5. The REIT shall redeem units only by way of a buy-back or at the time of delisting of units.

6. The units of REIT shall be remain listed on the designated stock exchange unless delisted under these  regulation.

7. The minimum public holding for the units of the listed REIT shall be 25% of the total number of outstanding
units at all times, and the number of unit holders of the REIT forming part of the public shall be 200 at all times, failing which action may be taken as may be specified by SEBI and by the designated stock exchange including delisting of units.

However, in case of breach of the conditions specified in this sub-regulation, the trustee may provide a period of six months to the manager to rectify the same, failing which the manager shall apply for delisting of units accordance  with these regulations.

8. Any person other than the sponsor(s) holding units of the REIT prior to initial offer shall hold the units for a period of not less than one year from the date of listing of the units subject to circulars or guidelines as may be specified by SEBI.

9. SEBI and designated stock exchanges may specify any other requirements pertaining to listing and trading of units of the REIT by issuance of guidelines or circulars.