SEBI allows unlisted InvITs to raise funds via rights issues

The Securities and Exchange Board of India (SEBI) has allowed unlisted infrastructure investment trusts (InvITs) to come up with rights issues in a bid to make it easier for them to raise funds. According to the new rules, an InvIT looking to float a rights issue will have to open the offering within three months from the record date that will determine the unit holders who will be eligible to participate in the sale. The rights issue will have to be kept open for subscription for at least three working days and up to 15 days. SEBI has set the minimum allotment per investor at Rs 10 million.


Enter your email address