India, Sept. 12 -- Sebi said its board approved the proposal of amending InvIT/REIT norms to widen the investor base for applying under the strategic investor category in a public issue of such trusts.

"The re-classification was proposed, inter-alia considering the characteristics of REITs i.e., being more inclined towards equity, relatively more liquid, and to ensure alignment with global practices. InvITs, on the other hand being products primarily privately placed with more stable cash flows and having lesser liquidity, the hybrid classification was proposed to be retained," it added.

"This will promote ease of doing business by enabling InvITs/REITs to attract capital from more investors under the Strategic Investor category," Sebi ...