PRESS RELEASE
SEBI includes National Investment Fund in the definition of
Qualified Institutional Buyers (QIBs)
National Investment Fund (NIF), a fund set up by the Government of India vide Gazette Notification no. F. No. 2/3/2005-DD-II dated November, 23, 2005 , has been included in the definition of QIB, in the SEBI (DIP) Guidelines. NIF is a fund consisting of the proceeds from disinvestment of Central Public Sector Undertakings, which would invest in equity in accordance with broad investment guidelines provided by the Government of India.
SEBI has issued necessary instructions to all registered Merchant Bankers in this regard.
The full text of the above circular is available on the website at: www.sebi.gov.in
Mumbai
March 17, 2008