Markets regulator Sebi on Tuesday proposed allowing issuance of Depository Receipts (DRs) against units of Real Estate Investment Trusts and publicly listed Infrastructure Investment Trusts to widen investment options for overseas investors and attract foreign capital.
Depository Receipts are foreign currency-denominated instruments issued by a foreign depository in a permissible jurisdiction against securities deposited with a domestic custodian in India.
Under the proposed framework, Real Estate Investment Trusts (REITs) and publicly listed Infrastructure Investment Trusts (InvITs) would be permitted to issue DRs in permissible overseas jurisdictions, enabling foreign investors to trade such instruments in foreign currency on permitted international exchang
business-standard.