Modification in Annexure to Common Application Form (CAF)
Summary
SEBI modifies the Annexure to the Common Application Form to allow Foreign Portfolio Investors based in IFSCs to have up to 100% aggregate contribution from NRIs, OCIs, and RI individuals. This change implements flexibility previously introduced in a June 27, 2024 circular by adding specific declaration options for eligible applicants. Depositories are instructed to update their CAF modules to reflect these modifications immediately.
Text
Vide Circular dated June 27, 2024, SEBI modified the Master Circular... to provide flexibility of having up to hundred percent aggregate contribution by NRIs, OCIs and RI individuals in the corpus of FPIs based in International Financial Services Centres (“IFSCs”)
the ‘Annexure to Common Application Form’ attached as Annexure B to the FPI Master Circular is modified as follows:
The following additional option is inserted under ‘Section B-II: NRI/OCI/RI – Entitlement in FPI’ in Para 5 of Part B titled ‘Additional information’ and shall be applicable only in case of applicants based in IFSCs in India
Further, the information, documents and declaration required to be submitted by an FPI based in IFSC in India that have/intends to have up to hundred percent NRI/RI/OCI participation... shall be provided in the format at Annexure - 1.
The provisions of this circular shall come into force with immediate effect.
The Depositories are advised to make appropriate modifications in the CAF module hosted on their respective websites.
This Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulations 4(c) and 44 of SEBI (Foreign Portfolio Investors) Regulations, 2019
Source: SecMarx — Modification in Annexure to Common Application Form (CAF). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.