Sebi set to relax investment manager eligibility norms for InvITs

Capital markets regulator Sebi on Monday decided to amend its investment manager eligibility norms for Infrastructure Investment Trusts and also permit fast-track issuance of units to existing investors in REITs and InvITs.

The changes in the eligibility norms, approved by Sebi’s board at a meeting here, will help a mega offering worth an estimated Rs 20,000 crore by the National Highways Authority of India (NHAI), which is in the process of setting up an Infrastructure Investment Trust (InvIT) to monetise its completed public-funded national highways.

The board approved a proposal to revise eligibility conditions for investment managers in InvITs and for streamlining the process of rights issue of REITs and InvITs, the regulator said after the meeting.