SEBI vide circular dated October 22, 2024 has modified the Master Circular for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors to amend the common application form to include following undertaking:
“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 of for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors as amended from time to time.”
