Infrastructure investment trusts: amended definitions require higher net worth, cross-referenced QIB definition, and expanded strategic investor criteria. Amendments to regulation 2 revise definitions: a family trust or registered intermediary must have net worth over five hundred crore rupees; 'qualified institutional buyer' is defined by cross-reference to the 2018 ICDR Regulations; and 'strategic investor' is defined to include institutional investors, certain foreign portfolio investors, specified NBFC layers and other Board-specified entities, each required to invest not less than five per cent of the InvIT offer size (or an amount specified by the Board), subject to foreign exchange law compliance and consultation with other financial regulators where applicable.
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Infrastructure investment trusts: amended definitions require higher net worth, cross-referenced QIB definition, and expanded strategic investor criteria.
Amendments to regulation 2 revise definitions: a family trust or registered intermediary must have net worth over five hundred crore rupees; "qualified institutional buyer" is defined by cross-reference to the 2018 ICDR Regulations; and "strategic investor" is defined to include institutional investors, certain foreign portfolio investors, specified NBFC layers and other Board-specified entities, each required to invest not less than five per cent of the InvIT offer size (or an amount specified by the Board), subject to foreign exchange law compliance and consultation with other financial regulators where applicable.
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