The Securities and Exchange Board of India (SEBI) has introduced certain changes to the existing framework for Infrastructure Investment Trusts (InvITs) through amendments to the SEBI (Infrastructure Investment Trusts) Regulations, 2014, which were notified on 2 April 2025 (Amendment). Basis the public comments received on the consultation paper issued on 30 October 2024 and the recommendations from SEBI’s Hybrid Securities Advisory Committee, the Amendment was tabled before SEBI at its board meeting held on 18 December 2024.
In this Ergo Update, the authors analyse the key changes introduced by way of the Amendment, including with respect to (i) the flexibility in the lock-in requirements of the Sponsors and Sponsor Groups, (ii) the extended roles and responsibilities of the Trustees, and (iii) the changes to the investment conditions for InvITs.