30 FIIs registered with Sebi in '05

The Foreign Institutional Investors (FIIs) are flocking to the Indian shores. At last count, 30 new FIIs have registered themselves with the Securities and Exchange Board of India (Sebi) since the beginning of the current calendar year.

According to data available on the Sebi website, the number of FIIs registered with Sebi hasgone up from 637 on December 31, 2004 to 667 till Wednesday.

Recent additions in the FII list include Janus Capital Group INC, Credit Suisse First Boston, Macquarie Bank, Pictet Global Selection Fund Management, ING Luxembourg, AIG Global Investment Corporation (Singapore), Dimensional Fund Advisors, Standard Bank Asia, Pioneer Asset Management S.A, CitiBank, N.A as Trustee for the United Technologies Corporation Master Retirement Trust.

FIIs have pumped in more than $2 billion in February so far. FIIs have made net purchases of Indian equity amounting to $1.795 billion and have put in a net $212.30 million in the debt market, adding up to $2.007 billion. In rupee terms, FIIs have bought shares worth Rs 7,871 crore in February, making gross purchases worth Rs 19,177 crore.

Devesh Kumar, head of equity at ICICI Securities said, "The Indian growth story has just begun. As infrastructure investments and consumption expenditure grow, the earnings of corporate India will reflect this aspect. This upward growth trajectory will continue to keep FIIs interested in India."