NEW DELHI, May 20: Nearly 2,900 new Foreign Portfolio Investors (FPIs) have registered with regulator Sebi in 2015-16 amid sluggish market condition.
According to the latest data from Securities and Exchange Board of India (Sebi), the capital markets had witnessed 1,444 newly registered FPIs in the entire 2014-15 fiscal.
A total of 2,867 additional FPIs got approval from Sebi in the past fiscal, taking the total number of such investors to 4,311, the data showed.
FPIs have pulled out over Rs 14,000 crore from stock markets in the entire previous fiscal after pumping in a staggering Rs 1.11 lakh crore in 2014-15.
BSE’s benchmark Sensex had plunged 9.36 per cent in last fiscal.
In a major revamp, Sebi in 2014 had released norms that had clubbed different categories of foreign investors into a new class called FPIs.
Under the new regime, FPIs have been divided into three categories as per their risk profile and the KYC (know your client) requirements, while other registration procedures have been made simpler for them.
FPIs are granted a permanent registration, as against the earlier practice wherein approvals were granted for one year or five years to the overseas entities seeking to invest in Indian markets.
The registration remains permanent unless suspended or cancelled by the board or surrendered by the FPI.
Meanwhile, according to the data, the number of ‘deemed FPIs’ stood at 4,406 in 2015-16. The number of such investors totalled 6,772 in the previous fiscal.
FPIs (including deemed FPIs) from about 55 different jurisdictions are registered with Sebi. (PTI)
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