SEBI Update - Revision in the manner of achieving minimum public unitholding requirement – Infrastructure Investment Trusts (InvITs)

On October 31, 2023, the Securities and Exchange Board of India (SEBI) issued a significant circular, impacting Infrastructure Investment Trusts (InvITs). Privately placed InvITs can now achieve minimum public unitholding by issuing units through preferential allotment, with the condition that only units issued to the public will be considered for compliance with the minimum unitholding requirement.

Modification of Existing Method: No. 7 under para 21.2. of Chapter 21 of the Master Circular for InvITs dated July 06, 2023, has been modified. This pertains to the sale of units held by the Sponsor(s), Investment Manager, Project Manager, and their associates/related parties.

Link - View Circular