P Notes

Clearly, the govt is worried about inflows in 2022 because of the global economic uncertainty and has decided to encourage inflows via any means possible, PNs included

With an aim to boost business activities in the international financial hub GIFT IFSC, the government in the Budget paved the way for IFSC units to issue participatory notes or offshore derivative instruments to foreign investors. Participatory notes (P-notes) are issued by registered foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. Till December 2022, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- was at Rs 96,292 crore, data with the Securities and Exchange Board of India (Sebi) showed. Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday recognised "offshore derivative instruments (ODIs) as valid contracts" in order to enhance business activities in the Gujarat International Finance Tec-City (GIFT City). In line with the Budget's announcement, it is likely that ...

Investment in the Indian capital markets through participatory notes slightly dropped to Rs 96,292 crore at the end of December 2022 from the preceding month on higher valuation of domestic markets. Before the decline, the investment through the route had been on an increasing trend since July because of a slump in prices of oil and other commodities and relative outperformance of Indian equity markets. Participatory notes (P-notes) are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Sebi data, the value of P-note investments in Indian markets --- equity, debt, and hybrid securities -- stood at Rs 96,292 crore at December-end, as compared to Rs 99,315 crore at the end of November. The investment level through the route was at Rs 97,784 crore at October-end, Rs 88,813 crore at September-end, Rs .

Investment in the Indian capital markets through participatory notes rose to Rs 87,813 crore at the end of September, making it the second consecutive monthly increase, as the country witnesses the best growth and earnings among emerging markets. Participatory notes (P-notes) are issued by registered FPIs to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 87,813 crore in September compared to Rs 84,810 crore in August. In comparison, investment through this route was Rs 75,725 crore in July-end, Rs 80,092 crore in June-end, Rs 86,706 crore in May-end and Rs 90,580 crore at the end of April. Of the total Rs 87,813 crore invested through the route till September 2022, Rs 79,418 crore was invested in ..

Investment in the Indian capital markets through participatory notes (P-notes) declined to Rs 80,092 crore till June-end, making it the lowest level in 20 months

Investments in the Indian capital market through Participatory notes (P-notes) dropped to Rs 87,989 crore at the end of January

P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly.

Investments in the Indian capital markets through participatory notes (P-notes) rose to Rs 92,261 crore till the end of June, making it the highest level in 37 months.

Investments through participatory notes in the capital market rose to Rs 91,658 crore at February-end, making it the highest level in 33 months, suggesting growing confidence of overseas investors

P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly

Investment through participatory notes (P-notes) in the domestic capital market surged to over Rs 74,000 crore till August-end, making it the highest level in 10 months

P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly

The inflow through P-notes in December was the lowest since February 2009, when the cumulative value of such investments stood at Rs 60,948 crore.

The Centre ruled out a rollback of the "super-rich" tax on FPIs, organised as trusts or association of persons, last week

In the previous four months, cumulative investment of Rs 73,428 crore was made till the end of February, Rs 78,110 crore till March-end, Rs 81,220 crore till April-end and Rs 82,619 till May-end

Of the total investments made till last month, P-note holdings in equities were at Rs 56,747 crore, while the remaining was in debt and derivatives markets

Of the total investments made last month, P-note holdings in equities were at Rs 662.33 billion and the remaining in debt and derivatives markets

P-notes are issued by registered foreign portfolio investors to overseas players who wish to invest in the Indian capital market without registering themselves directly

Markets regulator stipulated a fee of $1,000 that would be levied on each instrument to check any misuse of money

Experts say eligibility and other criteria for a p-note subscriber are now at par with those for an onshore investor