Sebi s move to introduce accredited investors concept to benefit AIFs business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Siddarth Pai, founding partner, 3one4 Capital, said the move will allow greater Indian participation in global companies and accelerate the growth of the Indian AIF industry overall.
Sebi allows AIFs and VC funds to invest up to $1.5 billion in foreign companies
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This is the second relaxation for Alternative Investment Funds (AIFs) by the capital markets regulator in the past three years. In 2018, it raised the overseas investment limit to $750 million from $500 million.
“This will allow greater Indian participation in global companies and will accelerate the growth of the Indian AIF industry,” said 3one4 Capital founder Siddarth Pai.
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MUMBAI: Securities and Exchange Board of India has allowed more room for domestic private equity and venture capital funds to invest abroad. Now, these investment vehicles can invest up to $1.5 billion of their corpus in foreign companies from the existing $750 million. The move will allow these funds more opportunities to invest their growing investment corpuses.
Read more about Sebi doubles AIFs overseas investment limit to $1.5 bn after talks with RBI on Business Standard. Industry players say the move will help the Rs 4.4-trillion AIF industry as the current allowance in many cases was getting fully utilised
Law firms are getting interested in the gifts of the GIFT (photo via GIFT)
IC Universal Legal last week opened an office in the
Gujarat International Finance Tec-City (GIFT), with
Cyril Amarchand Mangaldas, hot-on-its-heels, announcing today that it had also done so.
The two law firms’ moves follow a new February 2021 regulatory regime in the GIFT special economic zone (SEZ) announced last month. J Sagar Associates (JSA) after having been first to open in the GIFT in 2017, had not renewed its licence during the pandemic.
IC Universal wrote in a statement last week: “The firm has opened its branch office in GIFT IFSC and has become the first law firm to receive the regulatory authorisation from International Financial Services Centres Authority (IFSCA) to provide legal, regulatory and compliance services from IFSCs.”