SEBI has issued a circular revising the quarterly reporting format for Foreign Venture Capital Investors (FVCIs), effective for the quarter ending September 30, 2024. Under Regulation 13(1) of SEBI (FVCI) Regulations, 2000, FVCIs are required to submit quarterly reports, irrespective of whether any investments were made during the quarter. The new reporting format, enclosed as Annexure-1, covers general information about the FVCI, cumulative funds raised, and industry-wise investment details. Custodians are responsible for ensuring timely submission of the reports, as mandated by Regulation 14(2). The reports for the quarters ending September and December 2024 must be submitted in Excel format by November 15, 2024, and January 15, 2025, respectively, via email. From the quarter ending March 2025 onwards, submissions will be made through SEBI’s intermediary portal within 15 days after each quarter. This circular, issued under Sections 11(1) and 11A of the SEBI Act, aims to protect investors and promote market transparency.
Securities and Exchange Board of India
Circular No. SEBI/HO/AFD/AFD-PoD-3/P/CIR/2024/121 Dated: September 13, 2024
To,
1. All Foreign Venture Capital Investors
2. All Custodians
Dear Sir / Madam,
Subject: Reporting by Foreign Venture Capital Investors (FVCIs).
1. In accordance with Regulation 13(1) of SEBI (FVCI) Regulations, 2000, FVCIs are required to submit quarterly reports to SEBI in the format specified with respect to their venture capital activity as Foreign Venture Capital Investor.
2. The format for the quarterly report on venture capital activity to be submitted by FVCIs is revised and same is enclosed as Annexure-1.
3. FVCIs shall submit the aforesaid quarterly report irrespective of the fact that any investment is made or not during the quarter.
4. In accordance with Regulation 14 (2) of FVCI Regulations, 2000, Custodian shall be responsible for timely submission of the report.
Applicability
5. The report for the quarter ending September 30, 2024 and December 31,2024 shall be submitted in excel file in the revised format by November 15, 2024 and January 15, 2025 respectively through email at [email protected].
6. From quarter ending March 31, 2025 onwards, FVCIs shall submit quarterly report in the revised format on the SEBI intermediary portal (SI Portal). The report shall be submitted within 15 calendar days from the end of each quarter.
7. This Circular is issued in exercise of the powers conferred under Section 11(1) and Section 11A of the Securities and Exchange Board of India Act, 1992 read with Regulations 13 (1) SEBI (Foreign Venture Capital Investor) Regulations, 2000 to protect the interest of investors in securities and to promote the development of, and to regulate the securities market.
8. This Circular is available at sebi.gov.in under the link “Legal — Circulars”.
Yours faithfully,
Manish Kumar Jha
Deputy General Manager
Tel No.: 022 –26449219
E-mail: [email protected]
Endl: Annexure-1
Annexure-1
FVCI Quarterly Reporting Format
A. General Information about the FVCI
| Table 1: General Information about the FVCI | ||
| Sl. No | Particulars | Details |
| 1. | Name of the FVCI | |
| 2. | SEBI Registration No | |
| 3. | Date of grant of SEBI Registration | |
| 4. | Date of Incorporation/Establishment | |
| 5. | Country of Incorporation/Establishment | |
| 6. | Legal Form of FVCI | |
| 7. | Name of the investment manager / advisor, if any. | |
| 8. | Principal place of business
a. Name of the Country b. Whether the securities market regulator is signatory to IOSCO MMOU (Appendix-A to signatories) or a signatory to bilateral MoU with SEBI. c. If FVCI is a Bank, whether the central bank is a member of BIS. d. Whether the country is listed in FATF public statements conveying jurisdictions with deficiencies |
(Yes/No)
(Yes/No) |
| 9. | PAN of FVCI | |
| 10. | Address of FVCI | |
| 11. | Contact Details
a. Name of the Contact Person / Name of the Compliance Officer b. Designation c. Communication address d. Phone Number e. Email ID |
|
| 12. | Name of the Custodian | |
| 13. | Name of the Global Custodian, if any | |
| 14. | Name of Designated Bank | |
| 15. | Whether FVCI is regulated by an appropriate foreign regulator in home jurisdiction (Yes / No)
a. If yes, name of the regulator b. Name of the category in which it is registered |
|
16. Whether FVCI is registered with SEBI in any other category. If yes, details are per table below
| Name of the entity | Category | Registration No. | Date of Registration |
17. Details of Directors
| Serial No. | Name | Nationality | Address | Contact No. | Email
address |
18. Any instance of violation or non – adherence to securities laws etc (Refer Form A under FVCI Regulations)
19. Name of Tax consultant for FVCI in India (if applicable)
B. Cumulative details of the funds raised & invested by all schemes under the fund
1. Total Investible Funds (In Rs. Crores)#
# “Investible Funds” means the funds Committed for Investment in India net of expenditure for administration and management of the fund
2. Brief Investment details of the FVCI in India (Rs. Crore)
| Investment details (in Rs. Crore) | |||
| In Equity | In Debt | In AIF/ Venture Capital Funds |
Total |
| Listed Unlisted | Listed Unlisted | ||
Note: The value shall be put in terms of investment amount / cost of investment.
3. Investment Details (in Rs. Crores)
Name of the Scheme / fund |
Duration of Scheme /fund |
Cumulative Investments made by the schemes/fund under Regulation 11(c)(i) of FVCI Regulations# |
Cumulative investment made by the schemes / fund under Regulation 11(c)(ii) of the FVCI Regulations |
Total Invest ment (A + B + C + D) |
% of investments under 11(c)(i) comparedto total investments |
|||||
Investments (A) |
% of Total Investible Funds in (A) |
In listed companies (B) |
In Debt (C) |
In SPVs (D) |
Total (B + C + D) |
% of Total Investible Funds in (B + C + D) |
||||
# Investment in equity /equity linked instrument of unlisted companies
4. Industry wise investment Breakup (cumulative) (in Rs. Crores)
Sr. No |
Industry |
Amount invested directly |
Amount invested through VCFs/AIFs |
Total |
||||||
At the beginning of the quarter (a) |
Invest ment during the quarter (b) |
Divest ments during the quarter (c) |
At the end of the quarter (a+b-c) |
At the beginning of the quarter (a) |
Inves tment during the quarter (b) |
Divest ments during the quarter ( c ) |
At the end of the quarter (a+b-c) |
|||
1 |
Biotechnology |
|||||||||
2 |
Information Technology |
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3 |
Nanotechnology |
|||||||||
4 |
Seed Research andDevelopment |
|||||||||
5 |
Pharmaceutical |
|||||||||
6 |
Dairy Industry |
|||||||||
7 |
Poultry Industry |
|||||||||
8 |
Production of Biofuels |
|||||||||
9 |
Infrastructure Sector. |
|||||||||
i. |
**Transport and Logistics |
|||||||||
ii. |
***Energy |
|||||||||
iii. |
Water and Sanitation# |
|||||||||
iv. |
Communication ## |
|||||||||
v. |
Social/ Commercial Infrastructure$ |
|||||||||
10 |
*NBFC |
|||||||||
11 |
Others (dropdown as below) |
|||||||||
Total |
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* NBFC means Core Investment Companies (CICs), Asset Finance Company(AFCs) and Infrastructure Finance Companies (IFCs) registered with RBI.
**Includes Road/Bridges, Ports, Shipyards, Railways.
***Includes Electricity Generation/Transmission/Distribution, Oil/Gas/LNG storage facility, ESS. # Includes Solid Waste Management, Water treatment plant, Irrigation, Sewage, Drainage etc. ## Includes Telecommunication and Data Center.
$ Includes Hospitals, Education Institutes, Sport Infrastructure, Tourism Infrastructure, Industrial Parks/SEZ, Post-harvest storage infrastructure for agriculture/horticulture, Cold chain etc
Other Sectors
1. Services Sector
2. Media/ Entertainment
3. Industrial Products
4. Auto/ Auto Ancillary
5. Banking and financial services (Excluding NBFCs)
6. FMCG/Food and beverages
7. Healthcare
8. Real estate
9. Mining, exploration and refining
10. Packaging
11. Textiles
12. Retail
13. Chemicals/Petrochemicals/Plastic/Rubber
14. Hotel-cum-conventional centres with more than 3,000 seats
15. Soil Testing Laboratories
16. Exhibition-cum-Convention Centre.
Option to add sectors included
