The Securities and Exchange Board of India (SEBI) on May 19, 2023, issued a Consultation Paper on the proposal to review the Qualified Institutional Buyer status of Alternative Investment Funds, Venture Capital Funds, and Foreign Venture Capital Investors
The objective of the consultation paper is to seek comments/views/suggestions from the public on the proposal to review the Qualified Institutional Buyer (QIB) status of Alternative Investment Funds (AIFs)
The following has been proposed namely: -
• It states that the following shall be considered as QIBs namely: -
(i) AIFs and VCFs, other than those having 50% or more contribution from a single investor or investors belonging to the same group.
(Explanation – ‘same group’ shall include relatives and related parties as defined in the Companies Act 2013)
(ii) FVCIs, other than those FVCIs which are corporate bodies and family offices.
• Public comments are invited for the proposals mentioned above; the comments/suggestions may be provided as an MS Excel file per the attached format.
• Comments may be sent to the following, latest by June 01, 2023, in any of the following manners namely: -
(i) Preferably by email to [email protected], with a copy to Shri Sachin Kisan Jadhav, Manager ([email protected]) and Ms. Padma Bharathi S, Manager ([email protected])
(ii) By post to: Shri Sanjay Singh Bhati, Deputy General Manager, Alternative Investment Fund and Foreign Portfolio Investors Department, Securities and Exchange Board of India, SEBI Bhavan, C4-A, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 40005
