SEBI, by way of a Circular dated August 24, 2023, had mandated additional disclosures by FPIs which, inter alia, hold more than INR 25,000 crores (approx. USD three billion) of equity assets under management (AUM) in Indian markets ('Size Criteria'). Further, by way of a Circular dated December 18, 2024, similar disclosure requirements were introduced for subscribers of offshore derivative instruments issued by FPIs. By way of a Circular dated April 9, 2025, SEBI has, with immediate effect, increased the threshold for providing additional disclosures under the Size Criteria from INR 25,000 crores (approx. USD three billion) to INR 50,000 crores (approx. USD six billion).
Originally published 29 July 2025
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