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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

CDSL - Reiteration of SEBI Master Circular for Infrastructure Investment Trusts (InvITs)

14-Jul-2025 | CDSL/OPS/DP/POLCY/2025/472

CDSL has reiterated the SEBI Master Circular for Infrastructure Investment Trusts (InvITs) effective from 14 July 2025. Key Highlights are as follows: 1. The application for seeking registration as InvITs can only be made online by the applicants through the SEBI Intermediary Portal at https://siportal.sebi.gov.in. Further, all registered InvITs are required to file/ submit/ apply for any request through the online system only through SEBI Intermediary Portal. 2. The Investment Manager on behalf of the InvIT shall appoint one or more merchant bankers, at least one of whom shall be a lead merchant banker and shall also appoint other intermediaries, in consultation with the lead merchant banker to carry out the obligations relating to the issue and obligations and responsibilities shall be predetermined and disclosed in the offer document. (Para 2.1) 3. The Investment Manager shall deposit and keep deposited with the stock exchange(s), an amount calculated at the rate of 0.5% of the amount of units offered for subscription to the public or Rs 5 crore, whichever is lower. (Para 2.5) 4. The financial information shall be prepared in accordance with Indian Accounting Standards (Ind AS) and/or any addendum thereto as defined in Rule 2 (1) (a) of the Companies (Indian Accounting Standards) Rules, 2015 and include in it - Balance Sheet, Statement of Profit and Loss, Statement of Cash Flows etc. (Para 3.3.2) 5. The offer document shall contain disclosures of the projections of income and operating cash flows of the InvIT, including related assumptions, project-wise, for the next three financial years and for the current financial year. (Para 3.6) Kindly refer to the attached document for more information.

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