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ARTICLE · 04 APRIL 2024

Dematerialization Of Units Of AIF

Argus Partners
Argus Partners
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Argus Partners

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The Securities Exchange Board of India ("SEBI") on June 21, 2023 issued a circular no. SEBI/HO/AFD/PoD1/CIR/2023/96 on ‘Issuance of units of AIFs in dematerialized form'...

IndiaCorporate/Commercial Law

The Securities Exchange Board of India ("SEBI") on June 21, 2023 issued a circular no. SEBI/HO/AFD/PoD1/CIR/2023/96 on 'Issuance of units of AIFs in dematerialized form' (available, here) , which directed all schemes of alternative investment funds ("AIFs") to dematerialize their units as per the following timeline:

Particulars

Schemes of AIFs with corpus more than Rs. 500 crore

Schemes of AIFs with corpus less than Rs. 500 crore

Dematerialization of all the units issued

Latest by October 31, 2023

Latest by April 30, 2024

Issuance of units only in dematerialized form

November 1, 2023 onwards

May 1, 2024 onwards


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