P Notes

Sebi looks to further tighten the noose around participatory notes

Complete ban on use of derivatives, will be made to furnish granular disclosures

Investments through P-note surge to near 6-yr high at Rs 1.5 trillion

Investments through participatory notes in the Indian capital markets reached Rs 1.5 lakh crore at the end of February, making it the highest-level in nearly six years, driven by a strong performance of the domestic economy. The latest data includes the value of P-note investments in Indian equity, debt, and hybrid securities. Participatory notes (P-notes) are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to the latest data from markets regulator Sebi, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 1,49,517 crore at the end of February compared to Rs 1,43,011 crore at the end of January. The amount has reached the highest-level since June 2017, when investment through the route stood at Rs 1.65 lakh crore, data with the Securities and ...

Foreign funds can issue P notes to investors: What is it, why this matters

P-Notes are financial instruments that allow foreign investors to invest in the Indian stock market without directly registering with Indian regulators

P-notes investment continues to swell for seventh month on robust macros

Investment in the Indian capital markets through participatory notes rose over a six-year high at Rs 1.33 lakh crore at September-end, making it the seventh consecutive monthly increase, on the back of robust macroeconomic fundamentals. This is the highest level since July 2017 -- when investment through the route stood at Rs 1.35 lakh crore, data from the Securities and Exchange Board of India (Sebi) showed. The latest data includes the value of p-note investments in Indian equity, debt, and hybrid securities. Participatory notes (P-notes) are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Sebi data, the value of p-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 1,33,284 crore at the end of September as compared to Rs 1,28,249 crore a month earlier. I

Budget 2023: What does the announcement related to P-notes indicate?

Clearly, the govt is worried about inflows in 2022 because of the global economic uncertainty and has decided to encourage inflows via any means possible, PNs included

Govt paves way for IFSC units to issue P-notes to foreign investors

With an aim to boost business activities in the international financial hub GIFT IFSC, the government in the Budget paved the way for IFSC units to issue participatory notes or offshore derivative instruments to foreign investors. Participatory notes (P-notes) are issued by registered foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. Till December 2022, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- was at Rs 96,292 crore, data with the Securities and Exchange Board of India (Sebi) showed. Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday recognised "offshore derivative instruments (ODIs) as valid contracts" in order to enhance business activities in the Gujarat International Finance Tec-City (GIFT City). In line with the Budget's announcement, it is likely that ...

Investment in capital mkts via P-notes drops to Rs 96,292 cr in Dec: Sebi

Investment in the Indian capital markets through participatory notes slightly dropped to Rs 96,292 crore at the end of December 2022 from the preceding month on higher valuation of domestic markets. Before the decline, the investment through the route had been on an increasing trend since July because of a slump in prices of oil and other commodities and relative outperformance of Indian equity markets. Participatory notes (P-notes) are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Sebi data, the value of P-note investments in Indian markets --- equity, debt, and hybrid securities -- stood at Rs 96,292 crore at December-end, as compared to Rs 99,315 crore at the end of November. The investment level through the route was at Rs 97,784 crore at October-end, Rs 88,813 crore at September-end, Rs .

Investment via participatory notes rises to Rs 87,813 crore in September

Investment in the Indian capital markets through participatory notes rose to Rs 87,813 crore at the end of September, making it the second consecutive monthly increase, as the country witnesses the best growth and earnings among emerging markets. Participatory notes (P-notes) are issued by registered FPIs to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 87,813 crore in September compared to Rs 84,810 crore in August. In comparison, investment through this route was Rs 75,725 crore in July-end, Rs 80,092 crore in June-end, Rs 86,706 crore in May-end and Rs 90,580 crore at the end of April. Of the total Rs 87,813 crore invested through the route till September 2022, Rs 79,418 crore was invested in ..

Investment via P-notes drops to Rs 80,092 cr in Jun; volatility to continue

Investment in the Indian capital markets through participatory notes (P-notes) declined to Rs 80,092 crore till June-end, making it the lowest level in 20 months

Investments through P-notes decline to Rs 87,989 crore in January

Investments in the Indian capital market through Participatory notes (P-notes) dropped to Rs 87,989 crore at the end of January

Investment via P-notes rises to Rs 95,501 crore till December

P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly.

Investment in P-notes continues to soar; hits 37-month high in June

Investments in the Indian capital markets through participatory notes (P-notes) rose to Rs 92,261 crore till the end of June, making it the highest level in 37 months.

P-notes investment climbs to 33-month high at Rs 91,658 crore in Feb

Investments through participatory notes in the capital market rose to Rs 91,658 crore at February-end, making it the highest level in 33 months, suggesting growing confidence of overseas investors

P-notes investment climbs to 31-month high of Rs 87,132 cr in December

P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly

Investment in P-notes continues to soar; hits 10-month high in August

Investment through participatory notes (P-notes) in the domestic capital market surged to over Rs 74,000 crore till August-end, making it the highest level in 10 months

Inflows from P-notes continue to soar; climb to Rs 63,000 crore

P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly

Participatory notes investments hit nearly 11-year low till December-end

The inflow through P-notes in December was the lowest since February 2009, when the cumulative value of such investments stood at Rs 60,948 crore.

Budget impact: FPIs may look at P-notes for making investments in India

The Centre ruled out a rollback of the "super-rich" tax on FPIs, organised as trusts or association of persons, last week

Investments through participatory notes decline to Rs 81,913 crore in June

In the previous four months, cumulative investment of Rs 73,428 crore was made till the end of February, Rs 78,110 crore till March-end, Rs 81,220 crore till April-end and Rs 82,619 till May-end

Investment through P-notes rises to Rs 79,513 cr till December-end

Of the total investments made till last month, P-note holdings in equities were at Rs 56,747 crore, while the remaining was in debt and derivatives markets