Block deals: FPIs to seek review in the wake of the Archegos debacle

Late last month, global banks, including Goldman Sachs, Morgan Stanley, Nomura, and Credit Suisse, were forced to sell more than $20 billion worth of shares through a series of block deals

Foreign portfolio investors (FPIs) are likely to make a fresh representation to market regulator Securities and Exchange Board of India (Sebi) seeking relaxations of norms on block transactions — privately negotiated deals carried out under a special trading window.

According to sources, top foreign investors are planning to connect with regulatory officials explaining the need to relax block trading rules by citing the recent collapse of Archegos Capital Management in the US.

Late last month, global banks, including Goldman Sachs, Morgan Stanley, Nomura, and Credit Suisse, were forced to sell more than $20 billion worth of shares through a series of block