SEBI Circular – 16th October 2025

SEBI, vide its Circular dated 16^th October, 2025 has extended the timeline for existing Angel Funds to disclose a defined methodology in their Private Placement Memorandum (PPM) for allocation of investments among angel investors who approve such investments. Earlier, this disclosure and adherence to the methodology were required for investments made post October 15, 2025, as per SEBI’s circular dated September 10, 2025, on the revised regulatory framework for Angel Funds. The compliance timeline has now been relaxed till January 31, 2026, meaning that any investment made by existing Angel Funds after this date must follow the allocation methodology disclosed in their PPM. All other provisions of the earlier circular remain unchanged.

Link: https://www.sebi.gov.in/web/?file=https://www.sebi.gov.in/sebi_data/attachdocs/oct-2025/1760525216783.pdf#page=1&zoom=100,-7,687