Business Standard

Sebi's new disclosure norms likely to impact few FPIs due to exemptions

No panic selling entailed as funds affected will have six months to rebalance their portfolio

Rupee, Indian Rupee

Photo: Bloomberg

Khushboo Tiwari Mumbai

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Only a fifth of foreign portfolio investors (FPIs) in breach of the market regulator-specified thresholds may need to provide enhanced disclosure on ultimate beneficiaries, thanks to exemptions being provided, according to people in the know.

The ultimate beneficial ownership (UBO) disclosures, for FPIs with over 50 per cent holding in a single corporate group or over Rs 25,000 crore exposure to Indian assets, will be required from February 1. But, depending on their category, FPIs will have 10-30 working days to submit these granular details. FPIs affected by this will have a further six months, after the 30-day window, to exit

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First Published: Jan 24 2024 | 11:56 AM IST

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