What are the pre-requisites for initial offer of units by an Infrastructure Investment Trust (InvIT)? Is there a mandatory listing requirement under the InvIT Regulations?

Pre-requisites for initial offer of units by an Infrastructure Investment Trust (InvIT): The InvIT is registered with SEBI The value of InvIT assets is not less than ₹ 500 crore. Such value shall mean the value of the specific portion of the holding of InvIT in the underlying assets or holdco or SPVs; The offer size is not less than ₹ 250 crore. As per Regulation 16 of SEBI (Infrastructure Investment Trust) Regulations, 2014, it is mandatory for units of all InvITs to be listed on a recognized stock exchange having nationwide trading terminals, whether publicly issued or privately placed. However, this provision shall not be applicable if the initial offer does not satisfy minimum subscription amount or the minimum number of subscribers as per Regulation 14 of InvIT Regulations. The listing of the units shall be in accordance with the listing agreement entered into between the InvIT and the designated stock exchanges. With respect to listing of privately placed units, its units shall be mandatorily listed on the designated stock exchange(s) within thirty working days from the date of allotment. With respect to listing of publicly offered units, its units shall be mandatorily listed on the designated stock exchange(s) within twelve working days from the date of closure of the initial public offer.