Foreign Portfolio Investors ("FPIs") — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

To, Foreign Portfolio Investors ("FPIs") Designated Depository Participants ("DDPs") and Custodians The Depositories All recognized Stock Exchanges and Clearing Corporations including those in International Financial Services Centre Dear Sir / Madam, Subject: Master Circular for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors. Securities and Exchange Board of India (SEBI), vide circular number SEBI/HO/AFD2/CIR/P/2022/175 dated December 19, 2022, had issued Master Circular for FPIs, DDPs and Eligible Foreign Investors under the Securities and Exchange Board of India (Foreign Portfolio Investors), Regulations 2019. Subsequently, various circulars has been issued pertaining to FPIs and DDPs . The provisions of the aforesaid circulars are incorporated in this Master Circular which supersedes the earlier Master Circular dated December 19,2022 This Master Circular shall come into force from the date of its issue. The circulars mentioned in Annexure A of the Master Circular shall stand rescinded with the issuance of this Master Circular. With respect to the directions or other guidance issued by SEBI, as specifically applicable to FPIs, shall continue to remain in force in addition to the provisions of any other law for the time being in force. Terms not defined in this Master Circular shall have the same meaning as provided under the Regulations . Notwithstanding such rescission, anything done or any action taken or purported to have been done or taken including registration or approval granted, fees collected, registration or approval, suspended or cancelled, any adjudication, enquiry or investigation commenced or show -cause notice issued under the rescinded circulars, prior to such rescission, MASTER CIRCULAR SEBI/HO/AFD/AFD -