Securities and Exchange Board of India (Infrastructure Investment Trusts) (Third Amendment) Regulations, 2025

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ulations, 2014, namely: - 1. These regulations may be called the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Third Amendment) Regulations, 2025. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, ─ (1) in regulation 2, in sub-regulation (1), clause (zq) shall be substituted with the following, namely, - "(zq) "public" means any person other than: (i) the related party of the InvIT, its sponsor, investment manager or project manager; or (ii) any other person as may be specified by the Board: Provided that a person specified above, who is also a qualified ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (i) the first proviso shall be omitted; (ii) in the second proviso, after the word "provided" and before the words "that any listed InvIT which has", the word "further" shall be omitted; (b) in sub-regulation (2), (i) in clause (c), after the words "from any investor of rupees", the words "one crore" shall be substituted with the words "twenty five lakhs"; (ii) after clause (c), the words and symbols "Notwithstanding the above, if such an privately placed InvIT invests or proposes to invest not less than eighty per cent of the value of the InvIT assets, in completed and revenue generating assets, the minimum investment from an investor shall be rupees twenty five crore;" shall be omitted; (5) in regulation 18, in sub-regulation ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....er sub-regulation (5) and before sub-regulation (6), the following shall be inserted as sub-regulation (5A), namely, - "(5A) If the consolidated borrowings and deferred payments of an InvIT, in terms of regulation 20 of these regulations, exceeds forty nine per cent.; a quarterly valuation of the assets of InvIT shall be conducted by the valuer as at the end of the quarters ending June, September and December for incorporating any key changes from the previous quarter and such quarterly valuation report shall be submitted by the investment manager to the designated stock exchange(s) along with the quarterly financial results of the corresponding quarter: Provided that InvIT shall not be required to submit the quarterly valuation report ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....June, September and December if the consolidated borrowings and deferred payments of such InvIT, in terms of regulation 20, is above forty nine per cent." BABITHA RAYUDU, Executive Director [ADVT.-III/4/Exty./335/2025-26] Footnotes: 1. The Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 was published in the Gazette of India on September 26, 2014 vide No. LAD-NRO/GN/2014-15/10/1577. 2. The Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 was subsequently amended by the - a) Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2016, vide No. SEBI/LAD/NRO/GN/2016-17/021, with effect from November 30, ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... India (Regulatory Sandbox) (Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/30, with effect from August 3, 2021. k) Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2022 vide No. SEBI/LAD-NRO/GN/2022/83, with effect from May 4, 2022. l) Securities and Exchange Board of India (Infrastructure Investment Trusts) (Second Amendment) Regulations, 2022 vide No. SEBI/LAD-NRO/GN/2022/101 with effect from January 1, 2023. m) Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2023 vide No. SEBI/LAD-NRO/GN/2023/122 with effect from February 14, 2023. n) Securities and Exchange Board of India (Alternative Dispute Reso....