Conversion of Private Unlisted InvIT into Private Listed InvIT

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.... requirements specified for privately placed and listed InvIT and in the manner specified by the Board from time to time. 2. A Private Unlisted InvIT may list its units and convert into a Private Listed InvIT on making a private placement of units through a fresh issue and/or an offer for sale in terms of Chapter IV of the InvIT Regulations in the manner provided at Annexure - A. 3. Post issuance and listing of such units through private placement in accordance with this circular, the Private Unlisted InvIT shall stand transformed and shall be considered a Private Listed InvIT and it shall be required to comply with the provisions of the InvIT Regulations prescribed for Private Listed InvITs. 4. This circular is issued in exercise of pow....

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....pplicable laws since the date of issuance of its unlisted units or preceding three (3) years, whichever is less. d. It has obtained approval from seventy five per cent. of the unit holders by value for such private placement of units. Conditions for offer for sale of units 4. Units held by an existing unit holder in a Private Unlisted InvIT may be offered for sale in the private placement if such units have been held by the sellers for a period of at least one year prior to the filing of the draft placement memorandum with the Board. Provided that such units shall be free from any encumbrance or lock-in on the date of filing of draft placement memorandum with the Board. Provided further that unit holders, other than sponsor its associ....