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TMI BlogManner of achieving minimum public unitholding - InvITsX X X X Extracts X X X X X X X X Extracts X X X X ..... t to initial offer. 2. In order to facilitate InvITs to achieve minimum public unitholding compliance as required under InvIT Regulations, Investment Manager of the InvIT shall adopt any of the following methods: No. Method Specific conditions, if any, applicable 1. Issuance of units to public through offer document 2. Offer for sale of units held by Sponsor(s) / Investment Manager / Project Manager and their associates/related parties to public through offer document 3. Offer for sale of units held by Sponsor(s) / Inves ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s (or) ii. Sponsor(s) / Investment Manager / Project Manager and their associates/related parties can sell upto a maximum of 5% of the paid-up unit capital of the InvIT during a financial year subject to the condition that the public unitholding in the InvIT shall become 25% after completion of such sale. The sale can be a single tranche or in multiple tranches not exceeding a period of 12 months and the amount of units to be sold shall not exceed the trading volume of the units of the InvIT during the preceding 12 months from the date of announcement. i. Sponsor(s) / Investment Manager / Project Manager and their associates/related parties can use either the mechanism specified at Sl. No. 7(i) or 7(ii) to comply wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... / Investment Manager / Project Manager and their associates/related parties to an Exchange Traded Fund (ETF) managed by a SEBI-registered mutual fund, subject to a maximum of 5% of the paid-up unit capital of the InvIT. The Investment Manager of the InvIT shall, at least one trading day prior to such proposed transfer, announce the following details to the stock exchange(s) where its units are listed: i. the intention of the Sponsor(s) / Investment Manager/ Project Manager and their associates/ related parties to transfer units and the purpose of such transfer; ii. the details of Sponsor(s) / Investment Manager/ Project Manager and their associates/ related parties who propose to transfer their units in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... method(s) and / or conditions prescribed herein, shall be reported to SEBI on a quarterly basis. 4. This Circular is issued in exercise of the powers conferred under sections 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 14(1A) and 33 of InvIT Regulations. This circular is issued with the approval of the competent authority. 5. This circular is available at www.sebi.gov.in under the link Legal and Circulars . 6. The recognized Stock Exchanges are advised to disseminate the contents of this Circular on their website. Yours faithfully, Ritesh Nandwani Deputy General Investment Manager Policy and Development-II Department of Debt and Hybrid Securities +91-2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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