“An infrastructure debt fund scheme shall be launched as close-ended scheme maturing after more than five years or interval scheme with lock-in of five years,” Sebi said.
Infrastructure debt fund (IDF) scheme, which can be set up by any existing mutual fund, would invest a minimum 90 per cent of scheme assets in the debt securities and should have a minimum of five investors. The minimum investment into IDF would be Rs 1 crore and the minimum size of the unit would be 10 lakh, Sebi said.
Sebi said the strategic investor would have to make a firm commitment of Rs 25 crore. The units of infrastructure debt fund schemes shall be listed on the stock exchange.
Published 07 September 2011, 14:59 IST