Disclosure now mandatory for FPIs holding more than 50% stake in a company, SEBI decision

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To bring more transparency in the stock market, the market regulator SEBI has made it mandatory for FPIs holding a majority stake in a company or group to provide additional disclosure. This disclosure has to state all entities in the FPI where they have participation, economic interest and control rights. SEBI has set a timeline for such disclosures.

When will the new structure come into effect?

A circular issued by the Securities and Exchange Board of India (SEBI) said the new framework will be applicable from November 1. It is required to provide additional disclosure for holdings of foreign portfolio investors (FPIs) holding more than 50% of AUM in a group or company. Along with this, FPI's holding in Bharti Bazar should be more than Rs 25000 crore.

SEBI gave this direction

The director said that after the additional disclosure is made by the FPI, it cannot buy in the company for the next 30 calendar days. Government-linked entities such as central banks, sovereign wealth funds and public retail funds registered as FPIs are exempted from this rule. Experts believe that this rule has been made by the market regulator due to the non-identification of the owners of some FPIs in the Adani group. The current rule is lax in identifying the true owners of the true investments of FPIs. This rule will bring more transparency in the market.

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