In an interpretative letter issued under SEBI (Informal Guidance) Scheme, 2003, the SEBI has replied to a query sought by Amibit Private Limited. The query was whether privately placed InvIT can issue and allot units to natural persons under preferential issue guidelines in exchange for receipt of securities of the target SPV? SEBI replied that offer and allotment by InvIT on a private placement basis whether initial or further can be made only to Institutional Investors and Body Corporates.
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