Sebi sets rules for depositary receipts on REITs, InvITs
In short
Sebi has set rules for depositary receipts on REITs and InvITs, according to a reported new framework. It says both local and overseas exchanges must approve the issue, and any fresh offering needs 75% support from unitholders.
This could make it easier for foreign investors to put money into these Indian property-linked instruments. The reporting does not say when the rules will start or which specific trusts will use them.
What the reporting says
Sebi has issued a framework for depositary receipts tied to REITs and InvITs, opening a route for foreign investors to access those units. The reported rules say both local and international exchanges must approve any issue, and fresh offerings need at least 75% unitholder consent. The immediate effect is a clearer path for foreign capital, while the exact implementation timing is not stated in the available reporting.
Why it matters
Sebi has issued a framework for depositary receipts on REITs and InvITs, according to the reporting, to broaden foreign investor access to these listed real-estate and infrastructure vehicles. The rules require approvals from both local and international exchanges, and fresh offerings need 75% unitholder consent. The immediate market implication is potentially better foreign capital access for REITs and InvITs, though the reporting does not state timing or which issuers will use the framework.