Placement memorandum filing enables special situation fund subscriptions while imposing first-close, validity, and material-change obligations. A Registered FME may launch a special situation fund by filing a private placement memorandum with the Authority and paying applicable fees. Restricted ... Summary
Placement memorandum filing enables special situation fund subscriptions while imposing first-close, validity, and material-change obligations.
A Registered FME may launch a special situation fund by filing a private placement memorandum with the Authority and paying applicable fees. Restricted schemes operate through a green channel and may accept subscriptions once the memorandum is taken on record. The memorandum remains valid for 12 months, during which the FME must achieve the prescribed minimum corpus and declare first close. A one-time six-month extension is available on payment of half the fresh filing fee. Material changes require immediate intimation to the Authority.
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