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TMI BlogInvestments by FPIs in Corporate DebtX X X X Extracts X X X X X X X X Extracts X X X X ..... Corporate Debt 1. This has reference to the SEBI circular SEBI/HO/IMD/FPIC/CIR/P/2016/67 dated August 04, 2016 whereby the Corporate debt limit of INR 244,323 cr for FPIs was redefined as the Combined Corporate Debt Limit (CCDL) for all foreign investments in Rupee denominated bonds issued both onshore and overseas by Indian corporates. 2. In partial modification to Para 4 of the said circu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... utilised debt limits on the second trading day from the date of receipt of intimation from the depositories. Thereafter, the auction shall be conducted alternately on NSE and BSE. c. The auction shall be held only if the free limit is greater than or equal to INR 100 cr. However, if the free limit remains less than 100 cr for 15 consecutive trading days, then an auction shall be conducted on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of the limits 10 trading days from the date of allocation e. Once the limits have been auctioned, the FPIs will have a utilisation period of 10 trading days within which they have to make the investments. The limits not utilised within this period shall come back to the pool of free limits. f. Upon sale/redemption of debt securities, the FPI will have a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such a scenario, the reinvestment facility mentioned at Point (3f) shall be terminated and cannot be availed for the same limits when the utilisation crosses 95% again. The custodians shall monitor and report the reinvestment facility availed by the FPIs to the depositories. 7. In partial modification to Para (2a) of the SEBI circular SEBI/HO/IMD/FPIC/CIR/P/2017/16 dated February 28, 2017, FPI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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