The board has accredited a proposal to exempt further disclosure necessities for FPIs having greater than 50 per cent of their India fairness AUM in a single company group, if the concentrated holdings of the FPIs are in a listed firm with no recognized promoter. The composite holdings of all such FPIs within the firm with no recognized promoter must be lower than 3 per cent of its whole fairness share capital.
The timelines for disclosure of fabric modifications by FPIs has been relaxed. FPI registrations that expire as a result of non-payment of registration charge will now be permitted to be reactivated inside 30 days from such expiry. If the FPI chooses to not re-activate its registration inside 30 days, it shall be given 180 days for disposal of its securities.
Securities remaining unsold after 360 days shall be deemed to have been compulsorily written-off and shall be transferred to an escrow account.
SEBI has eased norms for firms tapping the marketplace for an IPO. Promoter group entities and non-individual shareholders holding greater than 5 per cent of the post-offer fairness share capital shall be permitted to contribute in the direction of minimal promoters’ contribution with out being recognized as a promoter.
The rise or lower in dimension of provide on the market requiring recent submitting shall be based mostly on solely one of many standards—both concern dimension in rupees or variety of shares, as disclosed within the draft provide doc.
Market capitalisation based mostly compliance necessities for listed entities to be decided on the idea of common market capitalisation of six months ending December 31, as an alternative of single day’s (March 31) market capitalisation.
SEBI will specify an goal and uniform standards for hearsay verification by way of materials worth motion of fairness shares of the listed entity.
The SEBI board has accredited the proposal to permit Class I and II AIFs to create an encumbrance on the fairness of its investee firms in infrastructure sector to facilitate elevating of debt/mortgage by such firms, topic to sure circumstances. It additionally accredited a proposal to permit AIFs to take care of unliquidated investments which aren’t offered as a result of lack of liquidity throughout the winding up course of, by persevering with to carry such investments in the identical scheme of the AIF and coming into right into a Dissolution Interval.
A framework for issuance of subordinate items by privately positioned InvITs has been offered.
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