SEBI clears depository receipts for REITs and InvITs on GIFT City exchanges with 75 percent approval
· Business · Moneycontrol
SEBI has approved REITs and InvITs to issue depository receipts on GIFT City exchanges, requiring a minimum 75 percent approval from unit holders and unitholders respectively. The Securities and Exchange Board of India issued a circular formalising the framework, enabling these investment vehicles to list and trade receipts on the Gujarat International Finance Tec-City platforms. This move expands the investment universe available to foreign and domestic investors on the GIFT City infrastructure. The approval mechanism mirrors existing norms for securities issued on recognised stock exchanges.
Why it matters
REITs and InvITs can now access GIFT City's international financial services district, potentially broadening capital inflows and offering investors a new avenue for real estate and infrastructure exposure with offshore listing benefits. The 75 percent approval threshold ensures unit holder consensus before any receipt issuance.
Read the original report — Moneycontrol
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