If an Infrastructure Investment Trust(InvIT) fails to make any offer of its units, whether by way of public issue or private placement, within three years from the date of registration with the Board, it shall surrender its certificate of registration to the Board and cease to operate as an InvIT. No InvIT shall make a private placement of unlisted shares.
These new regulations are provided by SEBI vide notification dated 9th November, 2022 through the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Second Amendment) Regulations, 2022. They shall come into force on January 1, 2023.
