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SEBI introduces OFS for Units of Private Listed InvITs Via Stock Exchange Mechanism.

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SEBI has by a circular yesterday has allowed private InvITs to allow sale of its units through Offer for Sale (OFS) mechanism.

The circular, which has amended SEBI’s earlier circular dated January 10,2023 which had introduced a comprehensive framework on OFS of shares including units of publicly listed REITs and InvITs through stock exchange mechanism.

The new circular has now amended and added a proviso to clarify that a private InvIT can come with an OFS and conditions applicable in case of retail investors shall not be applicable. Further, in case of private InvIT, OFS shall be open only for one day.

This amendment from SEBI is an important step in bringing more participation in InvITs and make them attractive investment instrument.

This circular shall come into effect immediately.

A copy of the circular is enclosed below.

Readers are welcome to send their views to Regstreet Law Advisors at info@regstreetlaw.com

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