SEBI-Allocation of debt limits in corporate debt old and Government Debt long term category to FIIs

CIR/IMD/FIIC/09/2012 March 12, 2012

To
All Foreign Institutional Investors
through their designated Custodians of Securities

Dear Sir/Madam

Sub Allocation of debt limits in corporate debt old and Government Debt long term category to FIIs

1. Based on the assessment of the utilization of the limits to FIIs for investments in corporate debt old and Government Debt long term category, it has been decided to allocate the unutilized limits. The bidding for this limit shall be done on the BSE from 15:30 hrs to 17:30 hrs, on March 16, 2012, in terms of SEBI circular IMD/FII&C/37/2009 dated February 06, 2009, subject to the modifications stated
below:-

a. In partial amendment to clause 3 (h) of the aforesaid circular IMD/FII & C/37/2009, no single entity shall be allocated more than INR 450 cr. of the investment limit in each of above categories. Where a single entity bids on behalf of multiple entities, in terms of para 7 of SEBI circular CIR/IMD/FIIC/18
/2010 dated November 26, 2010, then such bid would be limited to INR 450 cr. in each of above categories for every such single entity.

b. In partial amendment to clause 3 (c) and 3(d) of the aforesaid circular IMD/FII &C/ 37/2009, the minimum amount which can be bid for shall be INR 1 cr. in each of above categories.

2. The fees for the bidding process shall be remitted to SEBI by the respective custodians of the entities within 3 working days after the bidding process.

A copy of this circular is available at the web page F.I.I. on our website www.sebi.gov.in. The custodians are requested to bring the contents of this circular to the notice of their FII clients.

Yours faithfully,
S Madhusudhanan
Deputy General Manager
+91-22-26449614
smadhu@sebi.gov.in

profile image

About Shantanu

Shantanu

eMinds Legal Consulting Pvt. Ltd. is a Consulting Firm in India specialzing in Corporate Laws, Compliances, Secretarial, FEMA, Indirect Taxation, Cyber Laws & Contracts. The Firm comprises of a team of professionals of Company Secretaries, Lawyers and Chartered Accountants with an in-depth subject matter knowledge and participative industry experience of over 15 years.

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates