SEBI has amended the Infrastructure Investment Trusts () Regulations, 2014, allowing InvITs to issue (DRs) and simplifying unitholder approval thresholds for certain transactions. These changes aim to enhance fundraising avenues and ease operational complexities for infrastructure projects.
2014
Year InvIT Regulations Introduced
⏳ Time Machine
How today’s news fits into the bigger picture
2014
InvITs Regulations Introduced
SEBI first introduced the Infrastructure Investment Trusts () Regulations, aiming to enable greater flow of capital into the infrastructure sector from institutional and retail investors.
2016-2017
First InvITs Listed
India saw its first few being listed, primarily by major infrastructure players like IRB InvIT Fund and IndiGrid InvIT, raising substantial capital for their road and power transmission assets.
2019-2020
SEBI Eases Norms
SEBI relaxed certain norms for , including allowing them to invest in two-level SPV structures and reducing minimum subscription limits, to make them more attractive to investors.
2024
Renewed Focus on Infrastructure Funding
The government intensified its focus on infrastructure development and financing, promoting as a key vehicle for attracting both domestic and foreign investment.
Early 2026
Industry Demands for Global Access
Industry bodies and InvIT managers had been advocating for regulatory changes to allow access to international , particularly through instruments like .
Today
SEBI amends InvIT regulations, allowing Depository Receipts and simplifying unitholder approval thresholds.
What happens next?
InvITs are expected to explore international capital markets via DRs, with the first issuances potentially seen in the next 12-18 months, testing market appetite.
The Securities and Exchange Board of India (SEBI) has introduced key amendments to its Infrastructure Investment Trusts (InvITs) Regulations, 2014. A major change now permits InvITs to raise capital by issuing **Depository Receipts (DRs)**, opening up global investment avenues for Indian infrastructure. Additionally, SEBI has rationalized the unitholder approval thresholds for specific transactions, making it easier for InvITs to conduct certain corporate actions without needing an exceptionally high majority. These regulatory updates are designed to boost the attractiveness of InvITs, attract more capital for vital infrastructure projects, and improve operational flexibility, thereby accelerating India's infrastructure development.
💭 If you're wondering…
It's the minimum percentage of votes from unitholders (investors in an InvIT) required to approve a particular decision or transaction, like acquiring new assets or engaging with related parties. SEBI has made this easier to achieve.
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