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

Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2024

27-May-2024 | No. SEBI/LAD-NRO/GN/2024/182

SEBI has issued Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2024 further amend the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014. By virtue of this notification:- 1. In regulation 12(3A) the following sub-regulations shall be inserted, stating that - For calculating the minimum unitholding for sponsor and sponsor group, subordinate units shall not be considered in computing total outstanding units of the InvIT. Subordinate units shall not be eligible for meeting the minimum unitholding requirement as mentioned in sub-regulations for holding of sponsor and sponsor group. 2. Regulation 14 (5B) shall be inserted stating that '' No InvIT shall raise funds through public issue if any subordinate units have been issued and are outstanding.'' 3. Chapter IVA " Framework for Issuance of subordinate units" shall be inserted applicable to subordinate units issued after the notification of this Chapter. 4. In Regulation 22 (8) (xiia) shall be inserted stating that the existing sponsor(s) proposing to disassociate as sponsor(s) by seeking to convert the Investment Manager to Self-Sponsored Investment Manager shall there are no outstanding subordinate units.

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