Conversion of Private Listed InvIT to Public InvIT requires public issue compliance and prescribed sponsor contribution and lock in rules. Framework permits conversion of a Private Listed InvIT into a Public InvIT by making a public issue (fresh issue and/or offer for sale); upon issuance and listing the InvIT is treated as a Public InvIT and must comply with Public InvIT regulations. Conditions include asset composition eligibility, compliance with listing and disclosure obligations since listing or for the preceding three years, no defaults on distributions since listing, specified regulatory compliances, and approval by unit holders by value. Sponsor contribution, lock-in periods, transfer restrictions, investor subscription limits, and enhanced draft-offer disclosures are prescribed.
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.
Conversion of Private Listed InvIT to Public InvIT requires public issue compliance and prescribed sponsor contribution and lock in rules.
Framework permits conversion of a Private Listed InvIT into a Public InvIT by making a public issue (fresh issue and/or offer for sale); upon issuance and listing the InvIT is treated as a Public InvIT and must comply with Public InvIT regulations. Conditions include asset composition eligibility, compliance with listing and disclosure obligations since listing or for the preceding three years, no defaults on distributions since listing, specified regulatory compliances, and approval by unit holders by value. Sponsor contribution, lock-in periods, transfer restrictions, investor subscription limits, and enhanced draft-offer disclosures are prescribed.
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