In mid-February, the Securities Board of India registered the management company Alfa Capital as a foreign portfolio investor. The UK became the first Russian company admitted to the Indian trade.
The registration will allow Alfa Capital to transact on the Bombay and National stock exchanges. The company will conclude an agreement with the provider Orbis Financial Corporation, writes RBC.
The exchange agreements will be made in rupees, but Alfa Capital clients will receive income in rubles. “There will be no cross-border transfers in rupees, because this is a complicated procedure,” the company explained.
At the first stage, the entry threshold for investments in Indian securities will exceed 1 million rubles. In the future, Alfa Capital plans to gradually lower the investment threshold and develop strategies for retail clients.
Author:
karina pardaeva
Source: RB
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