Securities And Exchange Board Of India - Subsection
Section 16(7) in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014
(7)The minimum number of unit holders in an InvIT other than the sponsor(s) [, its related parties and its associates] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).],-(a)in case of privately placed InvIT, shall be five, each holding not more than twenty five per cent. of the units of the InvIT;(b)forming part of public shall be twenty, each holding not more than twenty five per cent. of the units of the InvIT,at all times post listing of the units, failing which action may be taken as may be specified by the Board and by the designated stock exchanges including delisting of units under regulation 17.
