According to the latest data released by the Securities and Exchange Board of India, the total value of P-Note investments in Indian markets (equity, debt and derivatives) rose to Rs 1,72,738 crore (Rs 1,727.38 billion) at the end of February from Rs 1,63,348 crore (Rs 1,633.48 billion) in the preceding month.
This was the highest level since December 2013, when the cumulative value of such investments stood at Rs 1,67,566 crore (Rs 1,675.66 billion).
P-Notes, mostly used by overseas high networth individuals, hedge funds and other foreign institutions, allow them to invest in Indian markets through registered foreign institutional investors, while saving on time and costs associated with direct registrations.
According to market analysts, investment into equity market via P-Notes have been rising in the past few months mainly on hopes of a stable government
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