SEBI proposes depository receipts for REITs InvITs

On August 4, 2026, the India — Securities and Exchange Board of India (SEBI) proposed allowing the issuance of depository receipts (DRs) against units of real estate investment trusts (REITs) and publicly listed infrastructure investment trusts (InvITs). The proposal aims to attract foreign capital by providing overseas investors an additional route to invest and trade these units in foreign currency on international exchanges. SEBI has aligned the proposed rules with those for equity depository receipts and has sought public comments by August 25. Privately listed InvITs are excluded from the framework. The move builds on existing provisions under the Depository Receipts Scheme 2014 and foreign investment rules, which already permit such issuances but lack enabling provisions in SEBI's REIT and InvIT regulations.