Sebi has shortened the cooling-off period for offer-for-sale transactions by privately listed illiquid InvITs to eight weeks from 12 weeks, effective immediately. Markets regulator Sebi on Monday reduced the cooling-off period for offer-for-sale (OFS) transactions by privately placed illiquid infrastructure investment trusts (InvITs) to 8 weeks from 12 weeks earlier. At present, the cooling-off period for transactions – purchases or sales before and after an OFS – is based on liquidity.