Securities And Exchange Board Of India - Subsection
Section 16(5) in Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012
(5)The following conditions shall apply to Infrastructure Funds in addition to conditions laid down in sub-regulation (1):-(a)atleast seventy five percent of the corpus shall be invested in unlisted securities or units or partnership interest of venture capital undertaking or investee companies or special purpose vehicles, which are engaged in or formed for the purpose of operating, developing or holding infrastructure projects;(b)notwithstanding clause (a) of sub-regulation (5), such funds may also invest in listed securitized debt instruments or listed debt securities of investee companies or special purpose vehicles, which are engaged in or formed for the purpose of operating, developing or holding infrastructure projects.
