The Securities and Exchange Board of India (Sebi) has proposed new disclosure norms requiring Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) to provide detailed financial information in their offer documents, aligning them with public issue and listing requirements. The draft circular aims to enhance transparency in financial disclosures both at the time of the offering and in ongoing compliance post-listing. These changes stem from recommendations by the Working Group on Ease of Doing Business for REITs and InvITs, as well as inputs from the Indian REITs Association, Bharat InvITs Association, and internal discussions within Sebi. (PTI)