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The amendments revise the InvIT regulations by narrowing the definition of "public," excluding sponsors, sponsor group, investment manager and project manager while treating specified persons who are QIBs as public; defer several fixed quarterly filing deadlines to timelines "as may be specified by the Board"; require simultaneous submission of certain valuation reports to trustees and stock exchanges and align annual/half-year valuations with financial results; mandate quarterly valuations if consolidated borrowings exceed 49% with specified submission rules; lower minimum private placement investor threshold to INR 25 lakh and remove a prior INR 25 crore exemption; permit holdco cash-flow netting with disclosure; and add enhanced quarterly reporting for high-leverage InvITs.
The amendments revise the InvIT regulations by narrowing the definition of "public," excluding sponsors, sponsor group, investment manager and project manager while treating specified persons who are QIBs as public; defer several fixed quarterly filing deadlines to timelines "as may be specified by the Board"; require simultaneous submission of certain valuation reports to trustees and stock exchanges and align annual/half-year valuations with financial results; mandate quarterly valuations if consolidated borrowings exceed 49% with specified submission rules; lower minimum private placement investor threshold to INR 25 lakh and remove a prior INR 25 crore exemption; permit holdco cash-flow netting with disclosure; and add enhanced quarterly reporting for high-leverage InvITs.
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