NISM Certifications · NISM-Series-VI: Depository Operations · Foreign Portfolio Investors (FPI)
A Mauritius-based fund wants to invest in Indian listed shares as a foreign portfolio investor. Through whom must it apply for FPI registration under the SEBI FPI Regulations?
The fund must apply through a Designated Depository Participant (DDP). DDPs are authorised by SEBI to receive applications and grant FPI registration, so exchanges, RTAs or the RBI are not the route for obtaining registration as a foreign portfolio investor.
- AA Designated Depository Participant (DDP)Correct
- BThe stock exchange where it intends to trade
- CThe Reserve Bank of India directly
- DThe Registrar and Transfer Agent of the target company
Explanation
Under the SEBI FPI Regulations, an applicant applies for registration through a Designated Depository Participant, which is authorised by SEBI to grant FPI registration on its behalf. Stock exchanges, RTAs and the RBI are not the channel for registration.
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