The Securities and Exchange Board of India (SEBI) has reduced the cooling off period for privately listed infrastructure investment trusts (InvITs) whose units are illiquid to eight weeks before and after an offer for sale (OFS). The change applies immediately and follows feedback from market participants. The amended framework retains the requirement for InvIT offers to use the same trading lot prescribed for secondary market trading under the SEBI (Infrastructure Investment Trusts) Regulations, 2014. For privately listed InvITs, the OFS framework’s retail investor provisions remain inapplicable, and offers remain open for only one day, T day.
SEBI cuts cooling off period for illiquid privately listed infrastructure investment trusts to eight weeks before and after an offer for sale
The Securities and Exchange Board of India (SEBI) has shortened the cooling off period for offers for sale involving privately listed infrastructure investment trusts with illiquid units to eight weeks before and after the offer, effective immediately. These offers continue to open for only one day and remain outside the framework’s retail investor provisions.