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To REIT, or not to REIT (InvIT), that is the Question!

This article discusses how SEBI’s 2025 Amendment expands India’s REIT framework to include data centres, warehousing, healthcare, student housing and other infrastructure-like assets, enabling diversified, rental-focused portfolios.

Janhavi Seksaria

Janhavi Seksaria

Partner, AZB & Partners

Janhavi Seksaria has over 13 years’ experience in advising on capital markets transactions. She has advised on almost the entire spectrum of capital markets transactions, including IPOs, QIPs, rights offerings, overseas listings (including through business trust route), buybacks, yieldcos and block and bulk trades on the stock exchanges. She has also extensively advised on establishing, listing and structuring business trusts, infrastructure investment trusts (InvITs) and real estate investment trusts (REITs). She has been, and continues to be, an active participant in the consultation process on various aspects of InvITs and REITs and has collaborated with stakeholders in making representations to various governmental and regulatory authorities, including the Prime Minister’s Office, Ministry of Finance, Central Board of Direct Taxes, RBI and SEBI.
Mrudul Desai

Mrudul Desai

Senior Associate, AZB & Partners

Mrudul Desai has approximately seven years of experience in advising on capital markets transactions. She focuses on transactions in relation to business trusts, specifically infrastructure investment trusts (InvITs) and real estate investment trusts (REITs) set up under the framework laid out by the Securities and Exchange Board of India. She has also advised on a variety of capital raising transactions by Indian corporates, including initial public offerings and qualified institutional placements. Further, she is an active participant in initiatives related to the consultation process on various aspects of InvITs and REITs.