SEBI issues framework for depository receipts backed by REIT units, enabling offshore access and IFSC listings.
REIT-Backed Depository Receipts Permitted
SEBI has introduced a regulatory framework for the issuance of depository receipts backed by units of Real Estate Investment Trusts (REITs), facilitating offshore investment and listings.
The rules cover eligibility, IFSC listings, pricing parity, voting rights, disclosure standards, and foreign exchange compliance. Depository receipts will be governed by existing depository regulations with REIT-specific modifications.
This innovation enhances global investor access to Indian real estate assets. Legal teams must evaluate structuring options for cross-border issuance and ensure alignment with FEMA and securities norms.
Citations
- SEBI Framework for REIT-Linked Depository Receipts, 2026
