Regulatory Alerts2025-12-11
Securities and Exchange Board of India (Infrastructure Investment Trusts) (Fourth Amendment) Regulations, 2025
The Securities and Exchange Board of India issued the Fourth Amendment Regulations, 2025, to further amend the Infrastructure Investment Trusts Regulations, 2014. The amendments revise the definition of 'qualified institutional buyer' and establish a new, detailed definition for 'strategic investor' that includes institutional investors, foreign portfolio investors, and specific NBFC layers, requiring a minimum investment of five percent of the offer size. These changes also mandate regulatory consultation for entities regulated by other financial sector regulators before they can be classified as strategic investors.
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