SEBI Prescribes Conditions for Participation of NRIs, OCIs, and RI Individuals in SEBI-Registered FPIs Based in IFSCs
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- Last Updated on 29 June, 2024
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Circular No. SEBI/HO/AFD/AFD-POD-2/P/CIR/2024/89, Dated: 27.06.2024
Earlier, SEBI (FPI) Regulations, 2019 were amended to provide flexibility of having up to 100 % aggregate contribution by NRIs, OCIs & RI individuals in corpus of FPIs based in IFSCs. Now, SEBI has prescribed conditions for NRI, OCIs & RI individual participation in FPIs based in IFSCs. It states that at the time of registration, the applicant must submit a declaration stating its intent to have aggregate contribution of NRIs, OCIs & RI individuals of 50 % or more in its corpus to DDPs.
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