SEBI allows depository receipts on InvIT units with eligibility, IFSC listing, pricing, and disclosure norms.
SEBI Permits DRs on InvIT Units
SEBI has extended the depository receipt framework to cover Infrastructure Investment Trusts (InvITs), enabling them to issue DRs backed by their underlying units. The circular, issued in November 2026, specifies eligibility conditions, IFSC listing requirements, pricing transparency, and ongoing compliance obligations.
The move is aligned with efforts to attract foreign investment into India’s infrastructure sector. Like REIT-based DRs, InvIT-linked DRs will be listed and traded at IFSCs, governed by standardized investor protection norms and valuation procedures.
This development offers InvITs a new capital-raising avenue while enhancing global investor access. Legal structuring must ensure compliance with foreign ownership caps, reporting, and currency risk disclosures.
