SEBI Raises Disclosure Threshold for FPIs and Subscribers of ODIs
The Securities and Exchange Board of India (SEBI) vide its circular dated April 9, 2025 (Circular) has amended the master circular for foreign portfolio investors (FPIs), designated depository participants and eligible foreign investors dated May 30, 2024 (Master Circular), which mandated certain additional disclosures for FPIs that individually or along with their investor group hold more than INR 25,000 crore equity assets under management. The additional disclosure requirements, previously only applicable for FPIs, were extended to subscribers of offshore derivative instruments (ODIs) by SEBI vide circular dated December 17, 2024.
SEBI, through its present Circular, has raised the threshold for mandatory additional disclosures by FPIs and ODI subscribers from INR 25,000 crore to INR 50,000 crore in equity assets under management.
Accordingly, sub-paragraphs (xiii)(b), (xv), (xx)(b) of paragraph 1 of Part C, and sub-paragraphs (i)(b), (iv), (ix)(b) of paragraph 4 of Part D of the Master Circular have been amended to reflect the increased threshold.
Conclusion:
The Circular aims to reduce compliance requirements for mid-sized FPIs and ODI subscribers, while continuing to ensure transparency and accountability from entities with substantial exposure to the Indian securities market.
Published On:
- July 23, 2025
Contributors:
- Dhruv Chatterjee
- Prachi Yadav
- Ridima Gupta