Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
AIFs in spot to complete demat before Sebi's Oct 31 deadline
Alternative investment funds (AIFs) are in a bind over the capital market regulator Sebi's diktat to dematerialise units of funds with a corpus of INR 500 crore or more by October 31. Less than 5% of these funds have dematerialised their units. Those that haven't are still liasoning with investors for providing demat account details and do not have clarity on whether to freeze the account or suspend further subscriptions after October 31. Any such actions may commercially impact the AIFs and lead to outflows. Globally, private equity and venture capital investors are not mandated to hold units in demat form.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.