SEBI Consultation Paper on the proposal to review Qualified Institutional Buyer status of Alternative Investment Funds, Venture Capital Funds and Foreign Venture Capital Investors

SEBI on 19 May, 2023 has issued Consultation Paper on the proposal to review Qualified Institutional Buyer status of Alternative Investment Funds, Venture Capital Funds and Foreign Venture Capital Investors. It is proposed that with regard to AIFs, VCFs and FVCIs, the following shall be considered as QIBs –

1. 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 Companies Act 2013)
2. FVCIs, other than those FVCIs who are corporate bodies and family offices.

Comments as per aforesaid format may be sent to the following, latest by June 01, 2023, in any of the following manner:

1. Preferably by email to afdconsultation@sebi.gov.in, with a copy to Shri Sachin Kisan Jadhav, Manager (sachinj@sebi.gov.in) and Ms Padma Bharathi S, Manager (padmab@sebi.gov.in)
2. 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 – 400051