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Govt says 28 FIIs issuing participatory notes as on Jul 31; Notional value of P-notes issued by 5 FIIs at $ 51 bln on July 31

Friday, September 7, 2007

Govt says 28 FIIs issuing participatory notes as on Jul 31; Notional value of P-notes issued by 5 FIIs at $ 51 bln on July 31

The government today said there were 28 foreign institutional investors issuing participatory notes as on Jul 31. "The top five participatory notes issuing FIIs together account for about 59.6% of the notional value of the outstanding participatory notes as on Jul 31," Minister of State for Finance Pawan Kumar Bansal said in Lok Sabha.

The top five FIIs are Morgan Stanley & Co. International, Merrill Lynch Espana, Citigroup Global Markets Ltd., Goldman Sachs & Co., and CLSA Merchant Bankers Ltd. The cumulative notional value of participatory notes issued by these five FIIs was $ 51.41 billion, or Rs 2.07 trillion, as on Jul 31. Participatory notes are like contract notes, issued by FIIs to entities that want to invest in the Indian stock market but do not want to register themselves with the Securities and Exchange Board of India.

FIIs registered with SEBI can issue and deal in participatory notes.

Posted by FR at 8:12 PM  

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