The following category of investors is eligible to register as FPIs:
Category I – Government and Government related investors such as Central Banks, Governmental agencies, sovereign wealth funds, international/ multilateral organisations/ agencies.
Category II – This category shall include:
- Appropriately regulated broad based funds such as mutual funds, investment trusts, insurance/ reinsurance companies,
- Appropriately regulated persons such as banks, asset management companies, investment managers/ advisors, etc,
- Broad based funds that are not appropriately regulated whose investment manager is appropriately regulated,
- University funds and pension funds, and
- University related endowments already registered with SEBI as FII/ sub-account.
The investment manager(s) of unregulated broad based funds should first register themselves as Category II FPI and must undertake that they shall be responsible and liable for all acts of commission and omission of all its underlying broad based funds and other deeds and things done by such broad based funds under these regulations.
Category III - All other FPIs not eligible under category I and II such as endowments, charitable societies/ trust, foundations, corporate bodies, trusts, individuals, family offices, etc.