Professional Documents
Culture Documents
Group Websites
(/index.html)
(https://www.facebook.com/bseindia)
(/index.html)
(https://www.linkedin.com/company/bombay-stock-exchange-limited?trk=cp_followed_name_bombay-stock-
exchange-limited)
Get Quote 39,749.73
+66.44 +0.17%
(https://plus.google.com/+BSEworldBSEIndia) (https://www.youtube.com/user/BSEworld)
(/sensex/code/16/) 28 May 19 | 16:00 | Close
Definition :
In India, alternative investment funds (AIFs) are defined in Regulation 2(1) (b) of Securities and Exchange Board of
India (Alternative Investment Funds) Regulations, 2012. It refers to any privately pooled investment fund, (whether
from Indian or foreign sources), in the form of a trust or a company or a body corporate or a Limited Liability
Partnership (LLP). Hence, in India, AIFs are private funds which are otherwise not coming under the jurisdiction of
any regulatory agency in India.
As per Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 Alternative
Investment Funds shall seek registration in one of the three categories
Category I: Mainly invests in start- ups, SME's or any other sector which Govt. considers economically and
socially viable.
Category II: These include Alternative Investment Funds such as private equity funds or debt funds for which
no specific incentives or concessions are given by the government or any other Regulator
Category III : Alternative Investment Funds such as hedge funds or funds which trade with a view to make
short term returns or such other funds which are open ended and for which no specific incentives or
concessions are given by the government or any other Regulator.
For AIF scheme launched under Category I & II shall be close ended, the tenure shall be determined at the time of
application and shall be for minimum three years.
https://www.bseindia.com/Static/about/alternative_investment_funds.aspx#!#Defi 1/4
28/05/2019 Alternative Investment Funds
Category III Alternative Investment Fund may be open ended or close ended.
Extension of the tenure of the close ended Alternative Investment Fund may be permitted up to two years subject to
approval of two-thirds of the unit holders by value of their investment in the Alternative Investment Fund. In the
absence of consent of unit holders, the Alternative Investment Fund shall fully liquidate within one year following
expiration of the fund tenure or extended tenure.
Units of close ended Alternative Investment Fund may be listed on stock exchange subject to a minimum tradable
lot of one crore rupees. Such listing shall be permitted only after final close of the fund or scheme. However, listing
on stock Exchanges is purely voluntary.
Process and Documentation required for Listing and Trading Alternative Investment Fund on BSE
Process
Documentation :
A. List of documents to be submitted for seeking In-principle approval for listing units of AIF scheme
Note:
The Exchange reserves the right to ask for documents other than those mentioned above
Per Placement
Memorandum / Rs. 50,000/-
Information Memorandum
https://www.bseindia.com/Static/about/alternative_investment_funds.aspx#!#Defi 2/4
28/05/2019 Alternative Investment Funds
Goods and Service Tax (GST) is payable on the Processing fees at the applicable rate
BSE reserves the right to revise the above fee structure
B. List of documents to be submitted for Listing of units of AIF (Post allotment of units)
Confirmation from the CEO / Compliance officer regarding allotment of units and the actual no. of units allotted.
Statement of Collection details.
Listing Agreement (In case of 1st Listing) as per SEBI LODR Regulations. (The format would be made available
soon)
Confirmation from CEO / Compliance officer regarding compliance with the provisions of Securities and
Exchange Board of India (Alternative Investment Funds) Regulations, 2012 including subsequent amendments
thereof and SEBI circulars issued in this respect.
Confirmation from NSDL and CDSL (ISIN activation)
Confirmation from RTA on the final number of units to be allotted with NSDL, to be allotted with CDSL and to be
issued under physical form.
Undertaking from the RTA on the units considered under switches that they have debited the units from the
respective schemes and credited the applicable units in this scheme(if applicable).
Confirmation received from NSDL / CDSL for credit.
Confirmation from RTA regarding dispatch of Certificates / Account statement/refund order.
Annual listing fees plus Applicable Taxes
The Exchange would reserve the right to ask for documents other than those mentioned above
BSE would have the right to add, modify, delete, revise any or all the above requirements as deem fit.
Submission of documents and fees would not amount to listing of units or grant of approval by BSE.
https://www.bseindia.com/Static/about/alternative_investment_funds.aspx#!#Defi 3/4
28/05/2019 Alternative Investment Funds
Non- Refundable Alternative Investment Scheme Annual Listing Fees to be paid year on year
Sr.
Particulars Fees Amount
No.
1 Initial Listing Fees Nil
Annual Listing Fee- for tenure of the
2 Payable per annum or part thereof
scheme
A Issue size up to Rs.250 Crores Rs. 2,50,000/-
Above Rs.250 Crores. and up to Rs.500
B Rs. 3,75,000/-
Crores.
Above Rs.500 Crores. and up to Rs.750
C Rs. 5,00,000/-
Crores,
Above Rs.750 Crores and up to Rs.1000
D Rs. 7,50,000/-
Crores
E Above Rs 1000 Crores Rs. 10,00,000/-
Note:
Goods & Service Tax (GST) would be payable on the listing fees at the applicable rate
BSE reserves the right to revise the above fee structure
Site optimized for IE9 & above. | Disclaimer | Sitemap (/sitemap.html) Copyright © BSE Ltd. All Rights Reserved.
28 May 19 | 10:56 (IST)
42
https://www.bseindia.com/Static/about/alternative_investment_funds.aspx#!#Defi 4/4