Markets regulator Sebi on Wednesday allowed unlisted Infrastructure Investment Trusts (InvITs) to raise funds through rights issue of their units.
Besides, the regulator has issued detailed guidelines for raising funds through this route. It has come out with conditions for issuance of units, guidelines on pricing as well as manner of issuance of units.
In a circular, Sebi said minimum allotment to any investor will be Rs 1 crore.
Also, issuer will have to disclose objects of the issue, related-party transactions, valuation, financial details, review of credit rating and grievance redressal mechanism in the letter of offer.
The issuance will be subject to several conditions, including obtaining in-principle approval of the stock exchanges for listing of units proposed to be issued.
