Fast-forwarding Public & Private InvIT Listings

The Securities and Exchange Board of India (SEBI) via their circulars dated April 28, 2022 (Public InvIT Circular) and June 24, 2022 (Private InvIT Circular), have trimmed down the timelines for listing the units of an infrastructure investment trust (InvIT) pursuant to a public and private offering, respectively, to 6 working days.

Prior to these circulars and pursuant to the SEBI InvIT Regulations, 2014, an InvIT was required to list its publicly and privately offered units within 12 working days and 30 working days, respectively, from the date of the offer closure. Thereafter, SEBI through the two circulars has endeavoured to provide a streamlined shortened mechanism for ensuring that the investors (amongst others) see the light at the end of the tunnel, i.e. the listing of an InvIT’s units, much sooner.

Please click here to read the full article by Arka Mookerjee and Siddhartha Desai, published in Mondaq and Lexology.