CATEGORIES OF FPI :

An applicant shall seek registration as a foreign portfolio investor in one of the categories mentioned hereunder
or any other category as may be specified by SEBI from time to time:

Category I FPI includes :

• Government and Government-related investors such as central banks, Governmental agencies, sovereign wealth funds and

• international or multilateral organisations or agencies.

Category II FPIs includes :
• appropriately regulated broad based funds such as mutual funds, investment trusts, insurance/reinsurance companies;

• appropriately regulated persons such as banks, AMCs, investment managers/advisors, portfolio managers;

• broad based funds that are not appropriately regulated but whose investment manager is appropriately regulated.

• university funds and pension funds; and

• university-related endowments already registered with SEBI as FIIs or sub accounts.

Category III FPIs include :

• all others not eligible under Category I and II FPIs such as endowments, charitable societies, charitable trusts, foundations, corporate bodies, trusts, individuals and family offices.

However, the investment manager of such broad based fund should be registered as a Category II FPI and should undertake that it shall be responsible and liable for all acts of commission and omission of all its underlying broad based funds and other deeds and things done by such broad based funds under these regulations.