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

NSE - Offer for Sale framework for sale of units of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs)

04-Aug-2023 | Download Ref No: NSE/CML/2023/61

NSE has reiterated a circular issued by SEBI dated 3rd August 2023 regarding the Offer for Sale (OFS) framework for the sale of units of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), effective from 4th August 2023. By virtue of this circular, the modifications have been made in Paragraph B of SEBI Circular dated 10th January 2023 to allow OFS for units of privately listed InvITs. In the case of OFS for listed InvITs, the trading lot shall be the same as the trading lot prescribed for such InvITs in the secondary market in terms of SEBI (Infrastructure Investment Trusts) Regulations, 2014. Provided further that since there is no participation of retail investors in privately listed InvITs, the provisions related to retail investors as specified in paragraph-A shall not be applicable in case of OFS for such InvITs and the OFS shall remain open only for one day (i.e. T day).

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