The current law says an FPI cannot hold more than 10% of the total paid-up equity capital as portfolio investment in an Indian company. The investment is categorised as foreign direct investment (FDI) if the holding exceeds the 10% limit. Until now, there was lack of clarity on how the offshore portfolio manager could go about classifying and reporting the stake once the holding crosses 10%.
Multibaggers: These 9 midcap stocks surged up to 300% in two years. Do you own any?
While the Nifty 50 declined nearly 5% over the past two years and the Nifty Midcap 150 gained around 6%, select midcap stocks delivered exceptional