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corpzo Ventures

Title
Alternative Investment Funds / Schemes: Tenure and Listing
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A member since November 2nd, 2021 - 12:08 +0100
Location
G 41, Sector 63, Noida
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The duration of AIF schemes established under Category I and II will be set at the time of application and shall be for a minimum of three years.

Alternative Investment Funds in Category III might be opening-ended or closed-ended.

The near-ended Alternative Investment Fund's term can be extended for up to two years with the agreement of two-thirds of the unit holders by value of their investment in the Alternative Investment Fund. In the absence of an unitholder agreement, the Alternative Investment Fund will entirely liquidate within one year of the fund's initial or extended-term expiring.

A minimum trading lot of one crore rupees is required for close-ended Alternative Investment Fund units to be listed on the stock market. Only when the fund or plan has closed will such a listing be authorized. Listed on stock exchanges, on the other hand, is entirely optional.

Process and Documentation required for listing and trading AIF on BSE:

Step1 Approach BSE for seeking in-principle approval for listing and trading of unit

Step2 Upon receipt of in principle from BSE, AIF approaches SEBI for seeking approval

Step3 upon SEBI approval, AIF approach BSE for listing and trading

Documentation

List of docs for seeking in-principle approval for listing units of AIF
A certified true copy of the following:

Placement memorandum/draft information. (physical copy and soft copy)
Investment agreement (in-case of 1st listing)
Certificate of registration of AIF issued by SEBI. (in case of 1st listing)
Custodian Agreement (in case of 1st listing)
R & T Agreement (in case of listing)
Trust Deed (if applicable)
Memorandum & Article of association of the issuer (in case of 1st Listing)
Passed Resolution copy at their meeting approving listing of units of closed-ended AIF on BSE ltd
An assurance from the CEO/compliance officer that the AIF complies with all applicable laws, including the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, as modified. https://www.corpzo.com/listing-of-scheme-of-alternate-investment-fund-on-bse
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