Issue of units and allotment: InvITs must meet registration, asset-value and offer-size conditions before issuing units. Regulation 14 requires an InvIT to be registered and to meet prescribed minimum asset value and minimum offer-size conditions before making an initial offer, allowing these to be fulfilled prior to allotment under binding agreements and disclosure. Private placements must be via a placement memorandum filed with the Board, limited to specified investor classes and counts with minimum investment thresholds. Public issues require filing draft offer documents with the Board and exchanges, public hosting for comment, due diligence certification, dematerialised-only issuance, prescribed allotment, refund and pricing procedures, and timelines for filing, opening and completion of offers.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Issue of units and allotment: InvITs must meet registration, asset-value and offer-size conditions before issuing units.
Regulation 14 requires an InvIT to be registered and to meet prescribed minimum asset value and minimum offer-size conditions before making an initial offer, allowing these to be fulfilled prior to allotment under binding agreements and disclosure. Private placements must be via a placement memorandum filed with the Board, limited to specified investor classes and counts with minimum investment thresholds. Public issues require filing draft offer documents with the Board and exchanges, public hosting for comment, due diligence certification, dematerialised-only issuance, prescribed allotment, refund and pricing procedures, and timelines for filing, opening and completion of offers.
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