Sebi for allowing foreign VCs in infra investment firms

According to the 12th five-year Plan (2012-17), India requires Rs 65 lakh cr investment in infrastructure

Capital markets regulator Securities and Exchange Board of India (Sebi) on Wednesday proposed allowing foreign venture capital investors (FVCIs) in core investment companies (CICs) for the infrastructure sector, to help attract foreign funds in this space.

The final norms would be put in place after taking into account public comments on the proposal and amending the existing regulations. Releasing a concept paper, Sebi said the proposal was aimed at "removing any hindrance for investment in the infrastructure sector through the FVCI route and to boost the infra sector".

According to the 12th five-year Plan (2012-17), India requires Rs 65 lakh crore investment in infrastructure.