Revised Pricing Methodology for Institutional Placements of Privately Placed Infrastructure Investment Trust (InvIT)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tock Exchanges All Depositories All Merchant Bankers Madam/Sir, Sub: Revised Pricing Methodology for Institutional Placements of Privately Placed Infrastructure Investment Trust (InvIT) 1. Regulation 14(4) of the SEBI (Infrastructure Investment Trusts) Regulations, 2014 ('InvIT Regulations') provides that any subsequent issue of units after initial public offer may be by way of inst....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on the said review, it has been decided that floor price for institutional placement for privately placed InvITs shall be NAV per unit of such InvIT. 3. Accordingly, the pricing for listed InvITs stand modified as under so that privately placed InvITs can undertake institutional placement based on NAV of the assets of the InvIT: 3.1. Paragraph 7.9.1 of the SEBI Master Circular for InvITs dat....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....InvITs dated July 06, 2023: "The institutional placement by privately placed InvIT shall be made at a price not less than the NAV per unit, based on the full valuation of all existing InvIT assets conducted in terms of InvIT Regulations." 4. This circular shall be applicable with immediate effect. 5. This circular is being issued in exercise of powers conferred under Section 11(1) o....