SEBI Mandates Upload of AIF NAV for Each ISIN via RTAs

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  • Last Updated on 9 February, 2026

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SEBI AIF NAV upload requirement

Circular no. HO/19/34/11(8)2025-AFD-POD1/I/4335/2026; Dated: 06.02.2026

The Securities and Exchange Board of India (SEBI) has directed Alternative Investment Funds (AIFs) to upload the latest Net Asset Value (NAV) for each ISIN of AIF units in the depository system, through their respective Registrars to an Issue and Share Transfer Agents (RTAs).

This measure is aimed at improving transparency, data accuracy, and market-wide availability of AIF valuation information.

1. Timeline for Uploading NAV

The NAV data must be uploaded:

  • On or before 1 May 2026, or
  • Within 30 days from the valuation date of the investment portfolio,
    whichever is later.

AIFs are required to ensure adherence to this timeline for each ISIN.

2. Determination of Valuation Date

For the purpose of computing the 30-day period, the valuation date shall be determined as follows:

2.1 Valuation by Independent Valuer

  • The date of the valuation report issued by the independent valuer.

2.2 Valuation by Internal Valuer

  • The date on which the valuation is documented in the internal records of the fund.

3. Responsibility of the AIF Manager

SEBI has clarified that:

  • The AIF manager shall be responsible for ensuring timely and accurate uploading of the NAV data.
  • Accountability for correctness and compliance rests with the manager, even though the upload is routed through RTAs.

4. Effective Date

  • The provisions of this circular come into force with immediate effect.

AIFs, managers, and RTAs are expected to align their valuation, reporting, and system processes accordingly.

5. Key Takeaway

The directive:

  • Enhances transparency and consistency in AIF NAV reporting
  • Strengthens data availability in the depository ecosystem
  • Places clear accountability on AIF managers for compliance
Click Here To Read The Full Circular

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied