SEBI mulls additional disclosure for offshore funds

PTI

Updated At : 12:16 PM Jun 01, 2023 IST

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New Delhi, May 31

To bring greater transparency, SEBI on Wednesday came out with a proposal mandating enhanced disclosures from high-risk Foreign Portfolio Investors (FPIs) that have concentrated holding in a single company or a group firm.

These proposals are aimed at preventing possible circumvention of minimum public shareholding requirements and potential misuse of the FPI route to guard against the inherent risks of opportunistic takeover of Indian companies, SEBI said in its consultation paper.

The proposal has its genesis in the Adani stocks issue where SEBI could not identify the beneficial owners of some foreign portfolio investments in Adani stocks since the existing regulations are lax in identifying the true owners of many investments.

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