The Securities Exchange Board of India vide circular dated October 05, 2021 has amended manner and mechanism of providing exit option to dissenting unit holders of Infrastructure Investment Trusts. The circular amends the procedure for determining the exit option price.
The circular also provides revised timeline for providing notice of meeting to unit holders, intimation of outcome of the unit holders’ meeting by the IM to Acquirer and stock exchange(s), creating escrow account, tendering units in exit option and Payment of consideration to dissenting unit holders by the Acquirer.
