SEBI proposes listing depository receipts of REITs and InvITs at International Financial Services Centres, enabling NRI participation and foreign currency fundraising.
SEBI Proposes Depository Receipts for REITs and InvITs at IFSC
SEBI has proposed enabling Indian REITs and InvITs to issue depository receipts listed at International Financial Services Centres (IFSCs), such as GIFT City. The move is designed to attract foreign and NRI investors and facilitate fundraising in foreign currencies.
The framework includes investor protection safeguards, particularly for private InvITs, and aligns with the IFSCA’s regulatory standards. It also contemplates cross-border custody arrangements and tax-efficient structures for dividend distribution.
This development expands offshore fundraising options for infrastructure and real estate entities. Legal teams must now evaluate structuring implications, including compliance with FEMA, PMLA, and international reporting norms.
Citations
- SEBI (REITs and InvITs) Regulations, 2014 (proposed amendment, 2026)
