FPIs allowed to Issue P-Notes
Recently, foreign portfolio investors (FPIs) domiciled at the GIFT International Financial Services Centre (IFSC) and registered with the Securities and Exchange Board of India (Sebi) have been allowed to issue offshore derivative instruments (ODIs), popularly known as participatory notes (P-Notes).
What are P-Notes?
- These are financial instruments required by investors or hedge funds to invest in Indian securities without having to register with the Securities and Exchange Board of India (SEBI).
- P-Notes are among the group of investments considered to be Offshore Derivative Investments (ODIs).
- P-Notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be ....
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