Investments in domestic capital markets through participatory notes (P-Notes) plunged to its lowest level in nearly three years to Rs 1.79 lakh crore in end-November. P-Notes are typical instruments issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to participate in Indian markets without registering themselves directly in the country to save time. But they still need to go through a proper due diligence process.
According to the data available with Sebi, the total value of P-Notes investment in Indian markets equity, debt and derivatives -- fell to Rs 1,79,648 crore in November-end, from Rs 1,99,987 crore at the end of October. This was the lowest level since February 2014 when the cumulative value of such investments stood at Rs 1,72,738 crore. The investment through the route was Rs 2,12,509 crore, Rs 2,16,232 crore and Rs 2,12,179 crore at the end of September, August and July, respectively.