Investment Trust public issues require advance offer-document review, due diligence, dematerialised units, controlled oversubscription, refunds and disclosure safeguards. Public fund raising by an Investment Trust requires advance filing and public availability of a draft offer document, supported by due diligence ... Summary
Investment Trust public issues require advance offer-document review, due diligence, dematerialised units, controlled oversubscription, refunds and disclosure safeguards.
Public fund raising by an Investment Trust requires advance filing and public availability of a draft offer document, supported by due diligence certification and incorporation of Authority comments before filing the offer document. Offers must comply with prescribed timing, subscription, allotment, dematerialisation and pricing requirements. Refund obligations apply where minimum subscription thresholds are not met or subscriptions exceed permitted limits. Retained oversubscription is capped, requires disclosure, and cannot fund general purposes. Offers for sale are subject to a minimum holding period, while general-purpose use of issue proceeds is restricted.
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