Enhancement of overall limit for overseas investment by Alternative Investment Funds (AIFs)/Venture Capital Funds (VCFs)
Summary
The Securities and Exchange Board of India (SEBI) has enhanced the overall limit for overseas investment by Alternative Investment Funds (AIFs) and Venture Capital Funds (VCFs). The permissible limit has been increased from USD 750 million to USD 1,500 million in consultation with the Reserve Bank of India. All other existing regulations and conditions governing such investments remain unchanged.
Text
SEBI registered AIFs and VCFs are permitted to invest overseas, subject to an overall limit of USD 750 million.
The said limit has now been enhanced to USD 1,500 million.
All other regulations governing such overseas investment by eligible AIFs/VCFs shall remain unchanged.
All other requirements, terms and conditions specified in the aforesaid SEBI Circulars shall remain unchanged.
This Circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Source: SecMarx — Enhancement of overall limit for overseas investment by Alternative Investment Funds (AIFs)/Venture Capital Funds (VCFs). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.