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Markets regulator Sebi on Wednesday issued a framework pertaining to minimum number of unit holders in unlisted Infrastructure Investment Trusts (InvITs).

The minimum number of unit holders in an InvIT, other than the sponsor(s), its related parties and its associates, should be five, together and collectively holding at least 25 per cent of the total units of the InvIT at all times, Sebi said in a circular.

The regulator said that a unit holder along with its associates and related parties will be considered as a single unit holder.

Registered unlisted InvITs that have already issued units as on the date of this circular will have to comply with the new framework within six months.

Generally, InvITs comprise a portfolio of infrastructure assets such as highways, power transmission assets.

At the end of March, there was a total of 15 registered InvITs and six of them were listed on the stock exchanges.

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