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

YourStoryYourStory · 1y ago
Sebi permits up to 100 % aggregate NRI corpus contribution for FPIs based out of GIFT IFSC
Medial

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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SEBI Warns Of FPI Trading Scheme Frauds On Social Media

Inc42Inc42 · 1y ago
SEBI Warns Of FPI Trading Scheme Frauds On Social Media
Medial

SEBI, the market regulator in India, has warned investors about fraudulent trading platforms that falsely claim to offer stock market access via the Foreign Portfolio Investors (FPIs) route. These platforms use online courses, seminars, and mentorship programs on social media platforms like WhatsApp and Telegram to lure victims. Individuals posing as SEBI-registered FPI employees persuade people to download apps for share purchases and IPO subscriptions. SEBI clarified that the FPI investment route is not available to resident Indians, with limited exceptions. They advised investors to stay vigilant and avoid such platforms. A study by SEBI revealed a significant increase in retail investors in India's futures and options markets, with nine out of ten experiencing losses.

Anicut raises $11 Mn via GIFT City Structure for Private Credit Fund 3

EntrackrEntrackr · 9m ago
Anicut raises $11 Mn via GIFT City Structure for Private Credit Fund 3
Medial

Alternative investment firm Anicut Capital has announced the receipt of $11 million in dollar-denominated investments via GIFT City Structure in its Private Credit Fund 3. In September last year, Anicut Capital secured an investment of Rs 50 crore from the Small Industries Development Bank of India (SIDBI) for the Anicut Equity Fund. Within the first year of operations, the fund has already invested in six companies including Earth Rhythm, Neemans, Wheelocity, The Ayurveda Experience, Blue Tokai Coffee and XYXX. The investment structure aims at attracting dollar-denominated investments into India from a diverse group of institutional investors, family offices, and high-net-worth individuals (HNIs) from key global markets including the US, UK, Europe, and the Middle East. The funds are raised in the International Financial Services Centres Authority (IFSC), a statutory authority established by the Government of India to facilitate international investments. The funds received via GIFT City Structure feed into the overall corpus of Rs 1,500 crore that Anicut Capital is currently raising for its third private credit fund. In private credit, Anicut claims to have deployed Rs 3,200 crore to date across mid-sized enterprises since inception.

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