Idfc Seeks Waiver Of Sebi Norms

Infrastructure Development Finance Company (IDFC) has sought an exemption from Securities and Exchange Board of India (Sebi) norms for mutual funds and venture capital funds, to enable investments by the Rs 1,000 crore Infrastructure Equity Fund (IEF).

Nasser Munjee, managing director and chief executive officer of IDFC, said as per Sebi norms, mutual funds cannot invest more than 10 per cent of their corpus in unlisted companies, while venture capital funds are prohibited from investing in listed entities.