Revised rules ease sponsor lock-in and disclosure for private to public InvIT conversions under new framework

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Full Text of the Document

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....Regulatory authorities have revised the framework governing the conversion of private listed Infrastructure Investment Trusts (InvITs) into public InvITs. The amendments streamline minimum unitholding and lock-in requirements for sponsors and their groups, aligning them with specific regulations. The procedural and disclosure obligations for public offers during conversion are now consistent with those applicable to follow-on offers. These changes take immediate effect and aim to enhance investor protection and market regulation. Stock exchanges and relevant associations are instructed to publicize these updates accordingly.....