Sebi to tighten FPI rules it was forced to dilute for Adani: Congress

A day after the SEBI proposed mandating additional disclosure for high-risk Foreign Portfolio Investors, the Congress on Thursday alleged that the regulator was now looking to tighten the very rules it was "forced to dilute" in 2018 to benefit the Adani Group. Capital markets regulator Securities and Exchange Board of India (SEBI) on Wednesday came out with a proposal mandating enhanced disclosures from high-risk Foreign Portfolio Investors (FPIs) to guard against possible circumvention of the Minimum Public Shareholding (MPS) requirement. This came after the SEBI observed that some FPIs have concentrated a substantial portion of their equity portfolio in a single investee company. In some cases, these concentrated holdings have also been near static and maintained for a long time. In a tweet, Congress general secretary Jairam Ramesh said, "The SEBI Consultation Paper put out yesterday proposes to tighten the very rules it was forced to dilute in 2018 to allow foreign portfolio ...

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