Clarification on grant of registration as a Foreign Portfolio Investor (FPI) to Registered Foreign Venture Capital Investors (FVCI).

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....tal Investors 3. All Approved Designated Depository Participants ("DDPs") 4. All Registered Custodians of Securities 5. All Depositories 6. All Recognized Stock Exchanges Dear Sir/ Madam, Sub: Clarification on grant of registration as a Foreign Portfolio Investor (FPI) to Registered Foreign Venture Capital Investors (FVCI). 1. SEBI has received a query from a Designated Depository....

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....d / held under the respective registrations. 4. Accordingly, it is clarified that a DDP may consider an applicant, holding FVCI registration, for grant of registration as an FPI subject to the following: a. The applicant complies with the eligibility criteria as prescribed under the FPI Regulations. b. The funds raised, allocated and invested must be clearly segregated for both the registrati....

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....ant does not have opaque structure(s), as defined under Explanation 1 of Regulation 32(1) (f) of FPI Regulations. 5. The applicant shall be required to comply with the provisions of FPI Regulations, FVCI Regulations and the circulars etc., issued there under from time to time. 6. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of I....