The Securities and Exchange Board of India (SEBI) on October 22, 2024, issued the notification regarding the Modification in Annexure to Common Application Form (CAF).
The following has been stated namely: -
• Reference is drawn to Master Circular for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign May 30, 2024.
• The aforesaid Master Circular has been amended namely: -
o Under the ‘Annexure to Common Application Form’ attached as Annexure B, the following has been inserted namely: -
“We confirm that NRIs/OCIs/RIs as investors in the FPI and contributions by single NRI/OCI/RI including those of NRI/OCI/RI controlled Investment Manager are below 25 percent of the corpus of the FPI. The aggregate contributions by NRI/OCI/RI are intended to be above 50% / are above 50% of the corpus of the FPI and we shall at all times be in compliance with the SEBI (Foreign Portfolio Investors) Regulations, 2019 and Master Circular for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors as amended from time to time. [Applicable only in case of eligible applicants from International Financial Services Centres in India]”
• The information, documents and declaration required to be submitted by an FPI based in IFSC in India that have/intends to have up to hundred percent NRI/RI/OCI participation in terms of the aforementioned Circular dated June 27, 2024, shall be provided in the format at Annexure -1
This shall come into force on October 22, 2024.
[Notification No. SEBI/HO/AFD/AFD-POD-3/P/CIR/2024/145]
