SEBI had issued guidelines a couple of years back for infrastructure investment trusts (InvITs). The markets regulator has now granted permission to three companies — IRB Infrastructure, GMR and MEP Infrastructure — to launch the trusts. These companies will float IRB Invit Fund, GMR Infrastructure Trust and MEP Infrastructure Trust shortly as per SEBI, which is likely to relax norms for the real estate investment trusts (REITs) and InvITs later this month. To help infra developers garner funds for long-term projects in a more transparent manner, SEBI had, in August 2014, introduced InvITs — an investment vehicle that would enable promoters to monetise completed assets. But the move failed to get enough attention of businesses owing to taxation issues. SEBI had recently said that its board would look at relaxing the guidelines for both REITs and InvITs. The SEBI board is expected to allow REITs and InvITs to have up to five sponsors, as against the present provision of only three.