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Additional disclosure framework for Foreign Portfolio Investors - SEBI Consultation Paper on proposal to increase the size criteria
This alert summarizes a recent consultation paper (CP) released for public comments by the Securities and Exchange Board of India (SEBI) on 10 January 2025. This alert summarizes a recent consultation paper (CP) released for public comments by the Securities and Exchange Board of India (SEBI) on 10 January 2025. The CP is in furtherance to the Circular issued by SEBI dated 24 August 20231 (August Circular), which outlines a framework for mandating additional granular disclosures by Foreign Portfolio Investors (FPIs) fulfilling prescribed concentration and size criteria and subsequent amendments made thereto including SEBI Circular dated 17 December 20242 to include subscribers of Offshore Derivative Instruments and FPIs with segregated portfolios.
The CP proposes to increase the threshold in respect of the size criteria with an objective to guard against the potential circumvention of Press Note 33 stipulation from INR 250 billion to INR 500 billion.
The last date to provide comments is 31 January 2025.