REITs and InvITs: Evolution of the Regulatory Landscape in India
Business trusts play a significant role in Asian and global capital markets. India introduced real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) in 2014. As this regulatory regime approaches the completion of a decade, the article reflects on the evolution of the regulatory landscape for REITs and InvITs in India.
Pratichi Mishra is a partner at S&R Associates. Her areas of practice include capital markets, mergers and acquisitions, foreign investments, regulatory, advisory and general corporate matters. She advises issuer companies, business trusts and investment banks on a range of capital markets matters, including initial public offerings, private placements, institutional placements, rights issues, preferential allotments, debt offerings, bulk/block trades, takeovers and regulatory matters.
Pratichi is a member of the Hybrid Securities Advisory Committee, a standing committee set up by the Securities and Exchange Board of India (SEBI) to advise SEBI on issues related to the development and regulation of primary and secondary markets of REITs, InvITs and other hybrid securities in India. She is also a member of the Expert Committee on REITs and InvITs in GIFT International Financial Services Centre.
Dhanush Dinesh is an associate at S&R Associates. His areas of practice include capital markets, mergers and acquisitions, regulatory and general advisory matters. Dhanush advises issuer companies, business trusts and investment banks on a range of capital markets matters, including initial public offerings, private placements, institutional placements, rights issues, preferential allotments, bulk/block trades, debt offerings and regulatory matters.
Gunjeet Singh is an associate at S&R Associates. His areas of practice include capital markets, regulatory, advisory and general corporate matters. Gunjeet advises issuer companies, business trusts and investment banks on a range of capital markets matters, including initial public offerings, private placements, institutional placements, rights issues and regulatory matters.