SEBI allows REITs and InvITs to issue depository receipts
In short
SEBI has allowed REITs and InvITs to issue Depository Receipts so foreign investors can buy in more easily. The rules also say issuers need unitholder approval and must follow pricing and reporting steps. One summary says the OFS cooling-off period for privately listed illiquid InvITs drops to eight weeks from 12.
This matters for real estate and infrastructure funds because it could bring in more foreign money. The reporting does not say how much new investment will come or when the first issue will happen.
What the reporting says
SEBI authorized REITs and InvITs to issue Depository Receipts to increase foreign investment, according to the summaries. The new framework allows these vehicles to issue fresh units for DRs, requires prior unitholder approval, and sets pricing and reporting rules; one summary also says the cooling-off period for OFS by privately listed illiquid InvITs falls to eight weeks from 12. The reporting does not say how much capital may come in or when issuers will use the route.
Why it matters
SEBI has allowed REITs and InvITs to issue Depository Receipts, with the stated goal of increasing foreign investment. The summaries say the framework permits fresh units for DRs, requires prior unitholder approval, and includes pricing and reporting rules; one also notes a shorter OFS cooling-off period for privately listed illiquid InvITs. The reporting does not quantify expected inflows or identify immediate issuers. The move affects real estate and infrastructure investment vehicles.