 "Sebi")
Non-resident Indian (NRI) offshore fund managers have requested the Securities and Exchange Board of India (Sebi) to allow them to own at least 5 per cent in their fund.
In a circular issued on April 10, the market regulator had reiterated that NRIs are not eligible to make investments as foreign portfolio investors (FPIs).
Sources said NRI-backed FPIs held fresh discussions with Sebi officials on Thursday. The regulator is expected to take a final call on the matter in a week, a source said.
The move assumes significance as several India-dedicated funds are currently operating in violation of the Sebi circular. If the
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