It is proposed to amend the definition of a Strategic Investor for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). Strategic Investors are required to invest a minimum of 5% of the total offer size, and their units are subject to a 180 day lock-in period. This commitment helps build confidence among other investors in the public issue. The proposed amendment would expand the definition to include entities classified as Qualified Institutional Buyers (QIBs) under SEBI’s ICDR Regulations, which have a broader scope. The proposal also suggests that Foreign Portfolio Investors (FPIs) who are individuals, corporate bodies, or family offices should not be considered as Strategic Investors. The comments/ suggestions from stakeholders are invited.