Private placement: InvITs must file draft placement memorandum through a merchant banker with prescribed disclosures and due diligence. InvITs issuing units by private placement and proposing to list must file a draft placement memorandum with the Board and stock exchange(s) through a registered merchant banker at least thirty days prior to opening; the draft must include Schedule III disclosures and be accompanied by a Form A due diligence certificate, the Board will issue observations within fifteen working days counted from the latest of several specified events, and the merchant banker must incorporate comments and provide a Form B due diligence certificate before final filing.
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Provisions expressly mentioned in the judgment/order text.
Private placement: InvITs must file draft placement memorandum through a merchant banker with prescribed disclosures and due diligence.
InvITs issuing units by private placement and proposing to list must file a draft placement memorandum with the Board and stock exchange(s) through a registered merchant banker at least thirty days prior to opening; the draft must include Schedule III disclosures and be accompanied by a Form A due diligence certificate, the Board will issue observations within fifteen working days counted from the latest of several specified events, and the merchant banker must incorporate comments and provide a Form B due diligence certificate before final filing.
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