SEBI has introduced a framework for issuance of subordinate units to bridge valuation gap and protect unitholders’ interests. Subordinate units can be issued to sponsors with inferior rights and require 75% unitholder approval. Maximum issuance capped at 10% of outstanding units. Uniform voting and distribution rights for all subordinate units. SEBI clarifies computation of net distributable cash flows, requiring distribution of at least 90% to unitholders. C
| Subscribe To Our Free Newsletter |
