TaxTMI 
TaxTMI 
Revision in manner of achieving minimum public unitholding requirement – Infrastructure Investment Trusts (InvITs)
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....tock Exchanges All Depositories All Merchant Bankers Madam / Sir, Sub: Revision in manner of achieving minimum public unitholding requirement - Infrastructure Investment Trusts (InvITs) 1. SEBI issued circular no. SEBI/HO/DDHS/PoD2/P/CIR/2023/107 dated June 27, 2023 prescribing methods to achieve minimum public unitholding requirements for InvITs. Subsequently, the said circular was....
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.... 7. Sale of units held by Sponsor(s) / Investment Manager /Project Manager and their associates/related parties in the open market in any one of the following ways, subject to compliance with the conditions specified: i. Sponsor(s) / Investment Manager / Project Manager and their associates/related parties can sell up to 2% of the total paid-up unit capital of the InvIT, subject to five ti....
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.... the units of the InvIT during the preceding 12 months from the date of announcement. Provided that the above limit related to the trading volume of units of the InvIT during the preceding 12 months from the date of announcement, shall not be applicable to a privately placed InvIT. i. Sponsor(s) / Investment Manager / Project Manager and their associates/related parties can use either the me....
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.... be completed. iii. The Investment Manager of the InvIT shall also give an undertaking to the recognized stock exchange(s) obtained from the Sponsor(s) / Investment Manager/ Project Manager and their associates/ related parties that they shall not buy any units in the open market on the dates on which the units are being sold by them as stated above. iv. The InvIT, its Sponsor(s) / Investmen....