SEBI Master Circular for Infrastructure Investment Trusts (InvITs)

Last updated: 02 December 2021

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The Securities and Exchange Board of India (SEBI) has released a Master Circular for Infrastructure Investment Trusts (InvITs). This document consolidates all relevant SEBI circulars concerning InvITs that were in effect as of October 31, 2021. The aim is to provide a single, accessible resource for the industry and other stakeholders. Circulars offering temporary COVID-19 related relaxations are not included. In instances of conflict, the specific circular's content will take precedence over the master circular.

Securities and Exchange Board of India

MASTER CIRCULAR

SEBI/HO/DDHS/DDHS_Div3/P/CIR/2021/673

November 29, 2021

All Infrastructure Investment Trusts (“InvITs”)
All Parties to InvITs
All Recognised Stock Exchanges
All Merchant Bankers and other Intermediaries

Madam/ Sir,

Sub: Master Circular for Infrastructure Investment Trusts (InvITs)

1. For effective regulation of Infrastructure Investment Trusts, Securities and Exchange Board of India (SEBI) has been issuing various circulars from time to time. In order enable the industry and other users to have an access to all the applicable circulars at one place, Master Circular for Infrastructure Investment Trusts has been prepared.

2. This Master Circular is a compilation of relevant circulars issued by SEBI up to October 31, 2021 which are operational as on date of this circular. Circulars providing temporary relaxations with regards to certain compliance requirements for InvITs in the wake of the COVID-19 pandemic have not been included in the master circular.

3. In case of any inconsistency between the master circular and the applicable circulars, the contents of the relevant circular shall prevail.

Yours faithfully,

Deena Venu Sarangadharan
Deputy General Manager
Department of Debt and Hybrid Securities
Tel no.: 022-26449266
Email: deenar@sebi.gov.in

Please refer to the attached file for full circular

FAQ :

The Master Circular consolidates all applicable SEBI circulars for Infrastructure Investment Trusts (InvITs) into one place to aid industry access and effective regulation.

The Master Circular includes SEBI circulars that were operational up to October 31, 2021.

No, circulars providing temporary relaxations due to the COVID-19 pandemic have not been included in this Master Circular.

If there is any inconsistency, the contents of the specific, relevant circular will prevail over the Master Circular.

This Master Circular is intended for all Infrastructure Investment Trusts (InvITs), parties to InvITs, recognised stock exchanges, merchant bankers, and other intermediaries.