What happened
The Securities and Exchange Board of India (SEBI) on 2 November 2026 issued two circulars setting out frameworks for issuing depository receipts on units of real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).
The REIT circular is numbered HO/17/11/19(7)2026-DDHS-RAC/I/24932/2026. The InvIT circular is numbered HO/17/11/19(7)2026-DDHS-RAC/I/24930/2026.
The details of the frameworks, such as eligibility, process and timelines, are in the circular texts on the SEBI website, and we are not reporting them here.
What it means for you
A REIT or InvIT pools money from investors to own income-generating real estate or infrastructure assets, and investors hold units in the trust. A depository receipt is a certificate issued against underlying securities, representing a claim on them. A framework for such receipts on trust units suggests a defined route for issuing them, though the specifics should be read in the circulars themselves.
If you already hold REIT or InvIT units, nothing in the confirmed material changes your existing holding. If you are considering such products, check the circular text and the offer documents for any new instruments before you act.
Background
SEBI is the regulator of India’s securities markets and issues circulars to set out rules and procedures for market participants. For related regulatory coverage, see our report on SEBI’s KYC review periodicity for foreign portfolio investors.
