SEBI revises framework to streamline the process for conversion of private InvITs into public

The Securities and Exchange Board of India (SEBI) has revised the regulatory framework for converting privately listed infrastructure investment trusts (InvITs) into publicly listed InvITs. The new framework streamlines sponsor-holding norms and aligns disclosure requirements with follow-on offers. Public issuances during conversion will now follow follow-on offer norms instead of initial public offering (IPO) norms, simplifying the process for privately listed InvITs seeking a public listing. The changes take effect immediately.