Instruments such as Reits, InvITs, unsponsored GDR, GIFT find few takers At least five new fundraising avenues, despite having cleared with much fanfare by the regulatory authorities, have remained doubtful starters due to lack of clarity on the taxation front. Instruments such as Real Estate Investment Trusts (Reits), Infrastructure Investment Trusts ( InvITs) and unsponsored depository receipts ( DRs) have failed to take off. Even the Gujarat International Finance Tech, or Gift) City, has yet to see any business, despite many blue chip companies showing interest in set their shops there. An official said they were in the process of removing impediments to make sure these new initiatives take off. “The Department of Economic Affairs ( DEA) is in touch with the revenue ministry to clear these hurdles. The past two Budgets have had numerous announcements for capital markets. We are trying to iron out some of the pending issues,” said the official. Reits, InvITs and unsponsored