Select Page

India’s markets regulator has given offshore funds an additional seven months to liquidate holdings if they fail to disclose data about their investors by Jan. 29, two sources with direct knowledge of the matter said on Wednesday.

“There is no immediate deadline or cliff for offshore funds to liquidate any holdings,” said the first of the two sources.

They declined to be named as they are not authorised to speak to media.

The Securities and Exchange Board of India (SEBI) last year asked offshore funds that have invested more than 50% of their assets under management (AUM) in a single group of companies and have more than 250 billion rupees ($3 billion) in Indian equity markets to disclose their investors.

The funds have an additional 10-30 days to provide the investor data after the Jan. 29 deadline.

“Even thereafter, if they fail to provide any details, they would have a further six months to reduce their holdings,” the source said.

  • Published On Jan 24, 2024 at 04:00 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETBFSI App

  • Get Realtime updates
  • Save your favourite articles

icon g play

icon app store

Scan to download App
bfsi barcode

Share it on social networks