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Sebi permits up to 100 % aggregate NRI corpus contribution for FPIs based out of GIFT IFSC

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Sebi permits up to 100 % aggregate NRI corpus contribution for FPIs based out of GIFT IFSC

The Indian markets regulator, Securities and Exchange Board of India (SEBI), has allowed Foreign Portfolio Investors (FPIs) based in International Financial Services Centre (IFSC) to have up to 100% aggregate contribution from non-resident Indians (NRIs), Overseas Citizens of India (OCIs), and resident Indians (RIs). This move aims to increase investments in India by FPIs and addresses the demand for greater participation of NRIs and OCIs in FPI corpuses. Existing FPIs have six months to submit a declaration of their intent to have 50% or more of their corpus contributed by NRIs, OCIs, and RIs. The contribution of a single NRI, OCI, or RI cannot exceed 25% of the total FPI corpus, and the combined contribution from these individuals must not exceed 50%.

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