SEBI reduced the OFS cooling-off period for illiquid privately listed InvITs from 12 to 8 weeks, effective 2 November 2026.
Shorter Cooling-Off Period for InvITs' OFS
SEBI has reduced the cooling-off period for Offers for Sale (OFS) in illiquid, privately listed Infrastructure Investment Trusts (InvITs) from 12 weeks to 8 weeks, effective 2 November 2026. The amendment modifies the December 2024 Master Circular governing InvITs and aims to improve capital raising agility.
The change allows sponsors and promoters to conduct OFS more frequently, enhancing liquidity options without compromising disclosure standards. SEBI emphasized that the revised timeline balances market stability with the need for timely fundraising, especially for long-gestation infrastructure projects.
Legal and compliance teams must update disclosure calendars and board approval processes. The reduction signals SEBI’s intent to make InvITs more dynamic while retaining safeguards against market manipulation.
