MANU/SREG/0013/2016

Ministry : Securities and Exchange Board of India

Department/Board : Investment Management Department

Circular No. : CIR/IMD/DF/55/2016

Date : 11.05.2016

To

All Infrastructure Investment Trusts (InvITs)
All Parties to InvITs
All Stock Exchanges
All Merchant Bankers

Dear Sir/Madam,

Guidelines for public issue of units of InvITs

1. SEBI (Infrastructure Investment Trusts) Regulations, 2014 ("InvIT Regulations") provides as under:

a) Regulation 14(6) states that 'The Board may specify by issue of guidelines or circulars any other requirements, as it deems fit, pertaining to issue and allotment of units by an InvIT, whether by way of public issue or private placement.'

b) Regulation 15(6)(iii) states that 'the advertisements shall be in accordance with any circulars or guidelines as may be specified by the Board in this regard.'

2. In line with the aforesaid Regulations, the detailed guidelines as placed at Schedule-A shall be applicable to public issue of units of InvITs.

3. This Circular is issued in exercise of powers conferred under Section 11(1) of Securities and Exchange Board of India Act, 1992 read with Regulation 33 of InvIT Regulations.

4. This Circular is available on SEBI website. under the categories "Legal Framework" and under the drop down "Circulars".

Yours faithfully,
Richa G. Agarwal
Deputy General Manager
Investment Management Department

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Schedule-A

Guidelines for public i........