Any subsequent issue of units after the initial public offer may be by way of institutional placement, in addition to other mechanisms as provided in Regulation 14(4) of the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (‘InvIT Regulations’).
The pricing for listed InvITs stands modified as follows:
Paragraph 7.9.1 of the SEBI Master Circular for InvITs dated July 06, 2023, is modified as given below:
The institutional placement by public InvIT shall be made at a price not less than the average of the weekly high and low of the closing prices of the units of the same class quoted on the stock exchange during the two weeks preceding the relevant date.
Insertion of Paragraph 7.9.2 to the SEBI Master Circular for InvITs dated July 06, 2023:
“The institutional placement by privately placed InvIT shall be made at a price not less than the NAV per unit, based on the full valuation of all existing InvIT assets conducted in terms of InvIT Regulations as per Paragraph 7.9.1 of the SEBI Master Circular for InvITs
This circular shall be applicable with immediate effect.
Link of the Circular:
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