SEBI has allowed Offer For Sale (OFS) for units of private listed Infrastructure Investment Trusts (InvlTs) through a stock exchange mechanism. InvITs were introduced in India to provide investors with an opportunity to gain exposure to infrastructure projects with diversification of risks through pooling arrangements. Privately placed InvITs can invest in under-construction assets as well as completed and revenue-generating assets and public InvITs can invest majorly in completed and revenue-generating assets. The OFS for the sale of units of REITs and InvITs by sponsor or sponsor group entities, and other unit holders are permitted in units of listed REITs. In the case of OFS for listed InvITs, the trading lot will be the same as the trading lot prescribed for such InvITs in the secondary market under SEBI's Infrastructure Investment Trusts rules. Since there is no participation of retail investors in private listed InvITs, the provisions related to retail investors will not be applicable in case of OFS for such InvITs and the OFS shall remain open only for one day (i.e T day).
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