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of <h1>SEBI Amends InvIT Rules: New Lock-in Provisions for Preferential Issues and Framework for Follow-on Offers</h1> SEBI amends the Master Circular for Infrastructure Investment Trusts (InvITs) to align lock-in provisions for preferential unit issues with Regulation 12(3) requirements. Sponsors and sponsor groups must maintain 15% of units locked-in for three years if they are project managers, or 25% if not. The amendment permits inter-se transfers of locked-in units among sponsor group entities while maintaining original lock-in periods. Additionally, the circular introduces a comprehensive framework for follow-on offers by publicly offered InvITs, including filing requirements, disclosure standards, and listing procedures, with provisions for fast-track follow-on offers to enhance fundraising efficiency.
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