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TMI BlogRevisions in FII Investments in corporate debt long term infra categoryX X X X Extracts X X X X X X X X Extracts X X X X ..... (QFI) in Mutual Fund Schemes to invest in debt schemes which invest in infrastructure debt upto a total ceiling of USD 3 billion out of the total long term corporate infrastructure limits of USD 25 billion. 3. Government of India vide its press release dated September 12, 2011 modified the aforesaid long term infrastructure limits and thus the following bifurcation of the long terms infrastructure limits of USD 22 billion is advised:- One year lock in one year residual maturity- 4. USD 5 billion is earmarked for FII investments in those bonds that have an initial maturity of 5 years or more at the time of issue and a residual maturity of 1 year at the time of first purchase by an FII. These investments are subject to a lock in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 419 Three year lock in with three year residual maturity by FIIs (including investment in IDF) 17 76,225 8. It is to be clarified that as per convention, in case of bonds that have embedded options, such as bonds with put and call options, the date of the put/ call shall be determined as the maturity date for the purpose of calculating residual maturity. Manner of allocation 9. In terms of para 6 of the circular of even number dated March 31, 2011, FIIs/sub-accounts were allowed to avail of the investment limits without obtaining SEBI approval till overall FII investments reaches 90% (ninety percent) . In partial modification of para 6 of the aforesaid circular I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss shall be remitted to SEBI by the respective custodians of the entities by October 12, 2011. 11. Time period for utilization of USD 5 billion limit for FII investments in terms of para 4 shall be as per SEBI circular IMD/FII C/18/2010 dated November 26, 2010. This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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