hBits gets SEBI nod for Rs.500-Cr fractional ownership realty fund

Fractional real estate ownership platform hBits has received regulatory approval from the Securities and Exchange Board of India (Sebi) to raise over INR 500 crore through a category II Alternative Investment Fund (AIF) for commercial real estate investments. The tech-enabled platform is also setting up a feeder fund - the Global Investors Feeder Trust (GIFT) - based out of GIFT City to cater to foreign investors.