Comprehensive Master Circular for Infrastructure Investment Trusts Released

On May 15, 2024, the Securities and Exchange Board of India (SEBI) issued a Master Circular on Infrastructure Investment Trusts (InvITs) which consolidates all previous regulations and guidelines related to InvITs up to Mat 15, 2024, ensuring that all relevant provisions are now accessible in a single document.

Key highlights of the Master Circular include:

  • Online Filing System: All applicants seeking registration as Infrastructure Investment Trusts (InvITs) must now submit their applications exclusively through the SEBI Intermediary Portal.
  • Financial Information Disclosure: The offer document or placement memorandum must include financial information for the last three completed financial years preceding the date of the offer document or placement memorandum. This financial information can be presented as condensed financial statements, which must comply with the minimum requirements outlined in Ind AS 34 on ‘Interim Financial Reporting’.

This Master Circular clarifies the regulatory framework for Infrastructure Investment Trusts in India, providing a comprehensive and accessible set of guidelines for all stakeholders.