New Delhi: Markets regulator Sebi on Wednesday allowed emerging investment vehicles REITs and InvITs to list on stock exchanges operating in the International Financial Services Centre. Besides, the watchdog has asked bourses in the IFSC to evolve a detailed framework prescribing the initial and continuous listing requirements for InvITs and REITs whose units are proposed to be listed.

In a circular, Sebi said units of Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) meeting certain conditions may be permitted to list on stock exchanges operating in the IFSC.

Such units should be regulated by the securities market regulators in the permissible jurisdictions. Also, units of such emerging investment vehicles need to listed on any of the specified international exchanges in the permissible jurisdiction, as per Sebi.

The permissible jurisdictions and exchanges are the United States' NASDAQ and NYSE; Tokyo Stock Exchange, Japan; Korea Exchange Inc of South Korea; the United Kingdom's (excluding British Overseas Territories) London Stock Exchange; France's Euronext Paris; Germany's Frankfurt Stock Exchange and Canada's Toronto Stock Exchange.

The country's only IFSC is in GIFT City near Ahmedabad in Gujarat.