SEBI relaxation for FPIs having more than 50% of its Indian equity AUM in a corporate group

SEBI has issued an amendment to Circular for mandating additional disclosures by FPIs that fulfil certain objective criteria. It has been decided that an FPI having more than 50% of its Indian equity AUM in a corporate group shall not be required to make the additional disclosures subject to compliance with all of the following conditions:

1. The apex company of such corporate group has no identified promoter. For this purpose, the list of corporate groups based on the corporate repository published by the Stock Exchanges and their respective apex companies having no identified promoters shall be made public by Depositories.
2. The FPI holds not more than 50% of its Indian equity AUM in the corporate group, after disregarding its holding in the apex company (with no identified promoter).
3. The composite holdings of all such FPIs (that meet the 50% concentration criteria excluding FPIs which are either exempted or have disclosed)in the apex company is less than 3% of the total equity share capital of the apex company.