Conversion of Private Unlisted InvITs via private placement requires compliance, sponsor contribution and lock-in obligations. Conversion of a Private Unlisted InvIT to a Private Listed InvIT is effected by a private placement and/or offer for sale under Chapter IV, after which the InvIT is treated as a Private Listed InvIT and must comply with listed-InvIT obligations. Issuance requires asset eligibility under Regulation 18(4), compliance with disclosure and distribution obligations since issuance (or preceding three years), no defaults on distributions, and approval of unit holders by the required value threshold. OFS units must meet holding-period and encumbrance-free conditions, and the InvIT must adhere to SEBI private placement procedures, sponsor contribution and lock-in rules, investor subscription limits, and enhanced placement memorandum disclosures.
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 Unlisted InvITs via private placement requires compliance, sponsor contribution and lock-in obligations.
Conversion of a Private Unlisted InvIT to a Private Listed InvIT is effected by a private placement and/or offer for sale under Chapter IV, after which the InvIT is treated as a Private Listed InvIT and must comply with listed-InvIT obligations. Issuance requires asset eligibility under Regulation 18(4), compliance with disclosure and distribution obligations since issuance (or preceding three years), no defaults on distributions, and approval of unit holders by the required value threshold. OFS units must meet holding-period and encumbrance-free conditions, and the InvIT must adhere to SEBI private placement procedures, sponsor contribution and lock-in rules, investor subscription limits, and enhanced placement memorandum disclosures.
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