The regulator passed the order on February 18
Stock market regulator is proposing changes in oversight and regulation to bring in more transparency and better corporate governance. The consultation papers were proposed late evening.
Sebi-registered FVCIs have also been permitted to invest in unlisted firms in sectors like biotechnology, nanotechnology and dairy without prior permission of the RBI.
The final norms would be put in place after taking into account public comments on the proposal and amending existing regulations.
Market regulator Securities Exchange Board of India (Sebi) on Saturday proposed uniform guidelines for all classes of foreign investors, a step aimed at simplifying the investment process for overseas entities and strengthen surveillance over them.
Datawatch lists out a bunch of Indian companies where FVCIs have a significant holding.