New Delhi: The government has said that the top five foreign institutional investors, or FIIs, account for almost 60% of all participatory notes, or P-Notes, issued in India, reports Newswire 18.
The notional value of the P-Notes issued by 5 FIIs is at USD 51 billion, as of July 31. The top P-Notes issuing FIIs are Morgan Stanley, Merill Lynch, Citigroup, Goldman Sachs and CLSA. There were a total of 28 FIIs issuing P-Notes in India, as on July 31.
Morgan Stanley tops the FII chart with USD 13.7 billion of P-notes issued. Then comes Merrill Lynch Espana with P-note investments of nearly USD 12 billion, Citigroup global markets takes third place with 11 billion dollars, Goldman Sachs has got in USD 8.5 billion dollars through this route and 5th spot goes to CLSA merchant bankers who have brought in USD 6 billion through P-notes.
This statement was made in response to a question in the Lok Sabha today. It was a written reply submitted by the Minister of State for Finance, Mr Bansal, where he gave a break-up of issuances of participatory notes by FIIs, for the Indian stock market.
The data given shows that five FIIs issued almost 60% of P-Notes in the country and it is fairly concentrated. Morgan Stanley at the top and it has Rs 550 billion worth of P-Notes issued as of July 31.
It was a plain statement of a fact. There was no cue from the government that they were looking at it closely, were concerned or were happy about it.
Comments
0 comment