SEBI revised timelines for Issuance of units of AIFs in dematerialized form

SEBI on June 21, 2023 has revised the timelines for Issuance of units of AIFs in dematerialized form. The Securities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2023 provides that alternative Investment Funds shall issue units in dematerialized form subject to the conditions specified by the Board from time to time.

Schemes of AIFs with corpus ≥Rs 500 Crore shall ensure the Dematerialization of all the units issued latest by October 31, 2023 and Issuance of units shall be only in dematerialized form November 01, 2023.

Schemes of AIFs with corpus < Rs 500 Crore shall ensure Dematerialization of all the units issued Latest by April 30, 2024 and Issuance of units only in dematerialized form from May 01, 2024 onwards.

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