The Securities and Exchange Board of India (SEBI) has permitted the Resident Indians to become constituents of Foreign portfolio investments (FPIs) registered as Alternative Investment Funds (AIFs) in Indian Financial System Codes (IFSCs).
“To facilitate investment in Indian securities markets through the FPI route by Alternative Investment Funds (AIFs) set up in International Financial Services Centres (IFSCs), the Board considered and approved the proposal to amend the SEBI (Foreign Portfolio Investors) Regulations, 2019 for permitting Resident Indians (other than individuals) to become constituents of FPIs that are registered as AIFs in IFSCs. Such Resident Indians shall be Sponsor/ Manager of the FPI and their contribution in the FPI shall be subject to conditions as specified by the Board,” the SEBI said.
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