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of <h1>SEBI Mandates Three-Year Financial Disclosure for InvITs, Including Interim Financials and Audited Statements, in Offer Documents.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) outlines the requirements for disclosing financial information in offer documents or placement memoranda for Infrastructure Investment Trusts (InvITs). It mandates that InvITs disclose financial data for the past three years, including interim financials if necessary. The financial statements must comply with Indian Accounting Standards and include balance sheets, profit and loss statements, and cash flow statements, among others. Additional disclosures such as project-wise cash flows, earnings per unit, contingent liabilities, commitments, and related party transactions are also required. The circular emphasizes the need for audited financial information and provides guidelines for calculating net distributable cash flows and preparing combined financial statements when historical data is incomplete.
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