All entities holding any ownership, economic interest, or exercising control in the FPI, on a complete look-through basis, up to the level of all natural persons, without any threshold, shall be provided by FPIs that fulfil any of the criteria mentioned below to the respective DDPs in the format specified in the above referred SOP.
a. FPIs holding more than 50% of their Indian equity Assets Under Management (AUM) in a single Indian corporate group.
b. FPIs that individually, or along with their investor group (in terms of Regulation 22(3) of the FPI Regulations), hold more than INR 25,000 crore of equity AUM in the Indian markets.
Disclosures shall not be required to be made by FPIs in case their investments are realigned with the prescribed thresholds, within the below-mentioned timelines/ conditions:
a. FPIs holding more than 50% of their Indian Equity AUM in a single Indian corporate group: 10 trading days from when such FPIs exceed the threshold. Such FPIs shall not make fresh purchases of the equity shares of any company belonging to such an Indian corporate group, during the next 30 calendar days from the date on which the FPIs exceed the threshold.
b. FPIs, including their investor group, holding more than INR 25,000 crore of equity AUM in the Indian markets: 90 calendar days from the date on which such FPIs exceed the threshold. Accounts of all FPIs, individually or belonging to such investor groups, shall be blocked for further equity purchases until the holding is brought below INR 25,000 crore of equity AUM in the Indian markets.
c. FPIs required to make disclosures as on the date of applicability of this circular: 90 calendar days from the date of applicability of this circular.
The provisions of this circular shall come into force with effect from November 01, 2023.
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