TaxTMI 
TaxTMI 
Investments by FPIs in Corporate Debt
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....he SEBI circular SEBI/HO/IMD/FPIC/CIR/P/2016/67 dated August 04, 2016 whereby the Corporate debt limit of INR 244,323 cr for FPIs was redefined as the Combined Corporate Debt Limit (CCDL) for all foreign investments in Rupee denominated bonds issued both onshore and overseas by Indian corporates. 2. In partial modification to Para 4 of the said circular, the CCDL shall be available on tap for inv....
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.... the date of receipt of intimation from the depositories. Thereafter, the auction shall be conducted alternately on NSE and BSE. c. The auction shall be held only if the free limit is greater than or equal to INR 100 cr. However, if the free limit remains less than 100 cr for 15 consecutive trading days, then an auction shall be conducted on the sixteenth trading day to allocate the free limits.....
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....ave a re-investment period of 2 trading days. If the reinvestment is not made within 2 trading days, then the limits shall come back to the pool of free limits. g. A single FPI/ FPI Group cannot bid for more than 10% of the limits being auctioned. 4. The subsequent auction would be held 12 trading days after the previous auction, subject to the fulfilment of the condition mentioned at Point (3c....
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....estments in unlisted corporate debt securities shall compulsorily be in dematerialized form and subject to a minimum residual maturity of three years. 8. All other terms and conditions for FPI investments in listed and unlisted corporate debt securities shall remain the same. 9. The depositories shall put in place the necessary systems for the daily reporting by the custodians of the FPIs. The e....