The Securities and Exchange Board of India (SEBI) on August 01, 2023, issued the notification regarding the Amendment to Circular for mandating additional disclosures by FPIs that fulfil certain objective criteria
The following has been stated namely: -
• Reference is drawn to SEBI Circular No. SEBI/ HO/ AFD/ AFD-PoD-2/CIR/P/2023/148 dated August 24, 2023, that mandated additional disclosures for FPIs that fulfil objective criteria. The said circular has been subsumed subsequently in the Master Circular for Foreign Portfolio Investors, Designated Depository Participants, and Eligible Foreign Investors (“FPI Master Circular”) dated May 30, 2024.
• The FPI Master Circular stands modified as follows:
After clause (g) of Para 1(xiv) of Part C, the following shall be inserted:
“(h) University Funds and University related Endowments, registered or eligible to be registered as Category I FPI, subject to them fulfilling the following additional conditions:
o Indian equity AUM being less than 25% of global AUM
o Global AUM being more than INR 10,000 crore equivalent
o Appropriate return/filing to the respective tax authorities in their home jurisdiction to evidence the nature of a non-profit organisation exempt from tax”
The provisions of this circular shall come into force from August 01, 2024.
[Notification No. SEBI/HO/AFD/AFD-POD-2/P/CIR/2024/104]
