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The Securities and Exchange Board of India (SEBI) vide its Circular No.
SEBI/HO/DDHS/DDHS-PoD-2/P/CIR/2025/44 dated March 28, 2025, has amended the lock in requirements for preferential issues of Infrastructure Investment Trusts (InvITs).
The Securities and Exchange Board of India (SEBI) vide its
Circular No. SEBI/HO/DDHS/DDHS-PoD-2/P/CIR/2025/44 dated
March 28, 2025, has amended the lock in requirements for
preferential issues of Infrastructure Investment Trusts
(InvITs).
The changes align lock-in provisions with existing regulations,
ensuring that sponsor-held units are not subject to additional
restrictions beyond their original lock-in period.
Additionally, the Market Regulator has now permitted inter-se
transfers of locked-in units among sponsors and their group
entities under specified conditions.
The circular also introduces a regulatory framework for
follow-on offers (FPOs) by publicly offered InvITs.
The SEBI has outlined procedural requirements, including stock
exchange approvals, dematerialized issuance, and adherence to
minimum public unitholding norms. Fast-track FPOs have been
proposed to enhance fundraising efficiency.
These measures are part of SEBI's efforts to promote ease of
doing business and provide greater flexibility to InvITs in raising
capital. The circular is effective immediately, and stock exchanges
have been advised to publish it on their websites.
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