https://www.taxtmi.com/circulars?id=68364 The circular amends preferential issue lock in rules to require 15% of sponsor allotted units to be locked for three years where the project manager is the sponsor or its associate (otherwise 25% locked for three years), with remaining sponsor allotted units locked for one year; sponsors must comply with Regulation 12(3) and 12(3A). It permits inter se transfers of locked in units within a sponsor's group while preserving the original lock in period and allows transfers on change of sponsor or conversion to self sponsored manager subject to meeting minimum unitholding obligations. It also prescribes procedures and disclosure, filing, listing, fee, dematerialisation and due diligence requirements for follow on offers, including a 25% minimum public unitholding post issue. en-us Fri, 28 Mar 2025 00:00:00 +0530 Fri, 13 Feb 2026 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68364 The circular amends preferential issue lock in rules to require 15% of sponsor allotted units to be locked for three years where the project manager is the sponsor or its associate (otherwise 25% locked for three years), with remaining sponsor allotted units locked for one year; sponsors must comply with Regulation 12(3) and 12(3A). It permits inter se transfers of locked in units within a sponsor's group while preserving the original lock in period and allows transfers on change of sponsor or conversion to self sponsored manager subject to meeting minimum unitholding obligations. It also prescribes procedures and disclosure, filing, listing, fee, dematerialisation and due diligence requirements for follow on offers, including a 25% minimum public unitholding post issue. Circulars SEBI Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68364