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Do investments made though subscription to Initial Public Offerings (IPO’s) or Private placements also come under the preview of Portfolio Investment Scheme?

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Do investments made though subscription to Initial Public Offerings (IPO’s) or Private placements also come under the preview of Portfolio Investment Scheme?

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No. Investments made by NRIs though subscription to Initial Public Offerings (IPO’s) or Private placements are not covered by Portfolio Investment Scheme. Such investments are covered by RBI’s regulations with regard to Foreign Direct Investments.

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