The Securities Exchange Board of India (SEBI) on June 27, 2023, issued a notification regarding the Manner of achieving minimum public unitholding – InvITs.
Within three years after the date the units were listed under the initial offer, any listed InvIT having a public unitholding below twenty-five percent must raise it to at least twenty-five percent.
The Investment Manager of the InvIT shall use any of the procedures as mentioned in the document to help InvITs achieve the minimum public unitholding compliance required by InvIT Regulations.
The Stock Exchange will keep an eye on the strategies used by InvITs to raise their public unitholding and ensure that they adhere to the minimum public unitholding standards outlined in this circular. Any non-compliance with the method(s) and/or conditions specified above that the Stock Exchange observes must be reported to SEBI on a quarterly basis.
[Notification No. SEBI/HO/DDHS/PoD2/P/CIR/2023/107]
