Like a mutual fund, InvITs enables direct investment of small amounts of money from investors in infrastructure and to earn a small portion of the income as return.
InvITs can be established as a trust and registered with Sebi. An InvIT consists of four elements-trustee, sponsor(s), investment manager and project manager.
InvITs can invest in infrastructure projects, either directly or through a special purpose vehicle. In case of Public Private Partnership projects, such investments can only be through SPV.
Two types of InvITs have been allowed. One is allowed to invest mainly in completed and revenue generating projects and the other in completed under construction projects.
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