MITCON Credensia provides trusteeship services for SEBI-registered Infrastructure Investment Trusts (InvITs), enabling pooling of capital for infrastructure development under SEBI (Infrastructure Investment Trusts) Regulations, 2014.
Infrastructure sectors covered:
- Power transmission and distribution
- Road and highway projects
- Renewable energy assets
- Telecom towers and fiber networks
- Pipeline and storage infrastructure
Our trustee role:
- Holding InvIT assets in trust for unitholders
- Oversight of investment manager and project manager
- Compliance with leverage limits and distribution requirements
- Monitoring of revenue contracts and counterparty risk
- Approval of related-party transactions
- Coordination with rating agencies and auditors
Scope of Service
- Vetting of the InvIT trust deed, investment management agreement and offer / placement documents
- Holding the InvIT's assets in trust for the benefit of unit-holders
- Oversight of the Investment Manager to ensure compliance with the SEBI (InvIT) Regulations, 2014, trust deed and offer documents
- Monitoring of acquisitions, divestments, related-party transactions and leverage limits
- Review of valuation reports and verification of distributions to unit-holders
- Oversight of both publicly offered and privately placed InvIT structures
- Convening meetings of unit-holders and acting on their resolutions
- Filing of trustee certifications and acting on unit-holder grievances as required
Frequently Asked Questions
What is an Infrastructure Investment Trust (InvIT)?
An InvIT is a SEBI-regulated trust that owns and operates revenue-generating infrastructure assets — power transmission, roads, telecom towers, gas pipelines and so on — and distributes the majority of its net distributable cash flow to unit-holders. InvITs are governed by the SEBI (Infrastructure Investment Trusts) Regulations, 2014.
What is the difference between a public and a private InvIT?
A publicly offered InvIT lists on a stock exchange and is open to all categories of investors. A privately placed InvIT raises capital from a limited number of institutional and large investors and may or may not be listed.
Who are the parties in an InvIT structure?
The Sponsor (who sets up the InvIT), the Investment Manager (who manages the assets), the Project Manager (for operations), the Trustee (who holds the assets), the Valuer, the Auditor, and the Unit-holders.
What is the trustee's role in an InvIT?
The trustee holds the InvIT's assets in trust for the unit-holders, oversees the Investment Manager's compliance with the SEBI InvIT Regulations and trust deed, monitors related-party transactions and leverage, reviews valuations, and verifies distributions.
How are unit-holder distributions monitored?
SEBI requires InvITs to distribute a minimum percentage of their net distributable cash flow at prescribed intervals. The trustee verifies that the Investment Manager makes these distributions correctly and on time.
What leverage limits apply to an InvIT?
InvITs are subject to SEBI-prescribed leverage limits based on the value of InvIT assets, with additional conditions applicable when leverage crosses defined thresholds. The trustee monitors compliance.
What documents are required to set up the trusteeship?
The InvIT trust deed, investment management agreement, project management agreement (where applicable), offer / placement documents, SEBI registration documents, and KYC of the Sponsor and Investment Manager.
How does MITCON Credentia add value as InvIT Trustee?
Through hands-on InvIT operations expertise across public and private structures, structured oversight of the Manager, prompt regulatory filings and a service-oriented approach to fund administration.
Have questions about Trustee for InvITs?
Our team can walk you through structuring, fee arrangements, and compliance requirements.
Request consultation