Between January and September 2024, Indian equity markets received a total of $12 billion in investments from Foreign Portfolio Investors (FPIs), as per data from depositories.

The Securities and Exchange Board of India (SEBI) introduced new disclosure norms, with a compliance deadline of September 9, 2023. These norms required FPIs with concentrated holdings exceeding 50% in a single corporate group, as well as those with large exposures above Rs 25,000 crore, to disclose detailed ownership information, including ultimate beneficial owners.

Despite concerns of a market downturn in October, SEBI sources clarified that most large FPIs complied with or were exempted from these requirements by the deadline, dispelling claims of significant selling triggered by the new norms.