 "Relaxed FPI norms in InvITs to help Reliance, Tata Power to cut debt")
The infrastructure InvITs to be launched by Reliance Industries, Tata Power and Vodafone Idea will be able to attract investments from foreign portfolio investors (FPIs), with the Union Budget relaxing norms to enable FPIs to subscribe to listed debt securities issued by InvITs and REITs.
While Sebi had operationalised issue of debt securities under the InvIT and REIT regulations, raising financing from FPIs had hit a roadblock due to restrictions under the FPI regulations as only corporate debentures were permitted. “As Invits and REITs are organised as trusts, it is now proposed to align the FPI regulations and permit FPIs to
