SEBI EASES STREET PLAY FOR FOREIGNERS

stocks. They can operate as sub-Listed foreign companies with an asset base of not less than $2 billion and a profitability record, and foreign individuals with a minimum net worth of $50 million can now trade in local accounts, where FIIs registered in India manage the investments. The changes introduced by capital market regulator Sebi would also enable more overseas entities to invest as sub-accounts of FIIs, foreign portfolio managers take exposure to collective investment schemes like art funds, and FIIs to issue participatory notes (PNs) to entities like some hedge funds. PNs are derivative instruments issued by FIIs to overseas investors who have no access to the Indian market.