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left arrow Jul 27, 2026

SEBI Introduces Fast-Track Mechanism for Processing of Placement Memorandums of AIFs

SEBI has, by way of a Circular dated April 30, 2026, introduced a fast-track mechanism for Private Placement Memorandums (‘PPMs’) of Alternative Investment Funds (‘AIF’), applicable to angel funds and AIF schemes other than ‘Large value fund for accredited investors’ (collectively, ‘non-LVF schemes’). AIFs may now launch new non-LVF schemes and circulate PPMs to investors 30 days after filing with SEBI, subject to prescribed disclosure and due diligence requirements. The merchant banker and manager remain responsible for accuracy of disclosures, and PPMs must include a disclaimer clarifying that SEBI filing does not constitute approval. The first close must be declared within 12 months from the date the AIF becomes eligible to launch.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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