FIIs net sold shares worth Rs 10,556 crore in the secondary market in just three sessions last week. Last week, January 22 and 26 were public holidays. Such was the sell-off last week, that it made for one-third of the total outflows seen in domestic equities so far in January.
In 2023, the Securities Exchange Board of India had mandated FPIs holding more than 50 percent of their Indian equity AUM in a single Indian corporate group or FPIs holding more than Rs 25,000 crore of AUM in Indian markets to provide additional disclosures regarding their ownership, economic interest and control.
SEBI wants additional disclosures from FPIs to prevent companies from manipulating the rules on minimum public shareholding, and also to prevent overseas entities from indirectly controlling Indian companies through a chain or web of shell firms
Now, merchant bankers, debenture trustees, registrar to an issue, share transfer agent and a know your client registration agency will redress investor grievances within 21 days, according to a notification issued on Thursday.
The regulator said principles of stewardship code would apply to members, nominated by the unitholders, on the board of directors of investment managers of REIT