SEBI/HO/AFD/AFD -POD -3/P/CIR/2024/145 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

CIRCULAR SEBI/HO/AFD/AFD -POD -3/P/CIR/2024/145 To, Foreign Portfolio Investors ( " FPIs " ) Designated Depository Participants (“DDPs”) and Custodians The Depositories Dear Sir / Madam, Subject: Modification in Annexure to Common Application Form (CAF) Vide Circular dated June 27, 2024 , SEBI modified the Master Circular for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors No. SEBI/HO/AFD/AFD -PoD -2/P/CIR/P/2024/70 dated May 30, 2024 ( " FPI Master Circular") to provide flexibility of having up to hundred percent aggregate contribution by NRIs, OCIs and RI individuals in the corpus of FPIs based in International Financial Services Centres ("IFSCs") in India and regulated by International Financial Services Centres Authority ("IFSCA") . In this regard, to provide the flexibility to existing and new FPIs, the 'Annexure to Common Application Form' attached as Annexure B to the FPI Master Circular is modified as follows: 2.1.The following additional option is inserted under ' Section B -II: NRI/OCI/RI – Entitlement in FPI ' in Para 5 of Part B titled 'Additional information' and shall be applicable only in case of applicants based in IFSCs in India: "   We confirm that NRIs/OCIs/RIs as investors in the FPI and contributions by single NRI/OCI/RI including those of NRI/OCI/RI controlled Investment Manager are below 25 percent of the corpus of the FPI. The aggregate contributions by NRI/OCI/RI are intended to be above 50% / are above 50% of the corpus of the FPI and we shall at all times be in compliance with the SEBI (Foreign Portfolio Investors) Regulations, 2019 and Master Circular October 22, 2024 for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors as amended from time to time.