Guidelines for filing of placement memorandum - InvITs proposed to be listed

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..... m - InvITs proposed to be listed 1. Regulation 2(1) (zoa) of SEBI (Infrastructure Investment Trusts) Regulations, 2014 ("InvIT Regulations") defines "private placement" as an issue of units by an InvIT to any select person or group of persons and does not include an offer of units made through a public issue and Regulation 2(1)(zl) of InvIT Regulations defines a "placement memorandum" as any docu .....

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..... emorandum. c. The Board may issue observations, if any, on the draft placement memorandum within fifteen working days from the later of the following dates: i) the date of receipt of the draft placement memorandum by the Board; or ii) the date of receipt of satisfactory reply from the issuer and/or merchant banker to the issue, where the Board has sought any clarification or additional infor .....

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..... . This Circular is issued in exercise of powers conferred under Section 11(1) of Securities and Exchange Board of India Act, 1992 read with Regulation 14(6) and Regulation 33 of InvIT Regulations. 5. This Circular is available on SEBI website at www.sebi.gov.in under the categories "Legal Framework" and under the drop down "Circulars". Yours faithfully, Richa G. Agarwal Deputy General Manager .....

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