FPI, Custody and DDP
Integrated module covering registration, beneficial ownership, investment limits and custody.
registration, beneficial ownership, investment limits and custody8 control pages
Reviewed by Ravi Sisodia · Last reviewed 24 July 2026
What this module covers
Foreign Portfolio Investors are registered and regulated under the SEBI (Foreign Portfolio Investors) Regulations, 2019 (last amended 3 December 2025), which run on a delegated-registration model: rather than registering FPIs directly, SEBI authorises Designated Depository Participants (DDPs) — typically custodian banks — to grant registration, verify KYC and beneficial-ownership documentation, and maintain a shared database so a rejection by one DDP is visible to all others. Every FPI must also appoint a SEBI-registered custodian to hold its Indian securities. Beneficial-ownership disclosure follows a materiality threshold for controlling interest, and investment-limit monitoring clubs together all registrations linked to the same beneficial owner — individual FPI holding in a listed Indian company is generally capped below 10% of paid-up capital, with breaches requiring reclassification or divestment.
The 8 control pages below turn this framework into operational checkpoints — confirming DDP-based registration and KYC (P-01) through to inspection-readiness (P-08) — covering custodian appointment and asset segregation, beneficial-ownership verification, and investment-limit monitoring across clubbed registrations.
Control pages
Governance and responsible persons
Onboarding, eligibility and due diligence
Funds, securities, custody and segregation
Valuation, pricing, fees and conflicts
Disclosure, reporting and website
Complaints, defaults and investor protection
Inspection, enforcement and evidence
Official sources
Current law status: the FPI Regulations are in force as of this review date, last amended 3 December 2025. Verify for further amendments before relying on this page for a live compliance decision.