SEBI exploring ‘Lodge and Launch’ framework to speed up AIF scheme approvals: Tuhin Kanta Pandey

Описание: Capital markets regulator Securities and Exchange Board of India is exploring a new regulatory framework to speed up approvals for Alternative Investment Fund (AIF) schemes, its Chairman Tuhin Kanta Pandey said.

Speaking at the IVCA Conclave 2026, Pandey said the proposed ‘Lodge and Launch’ model would enable faster launches of certain AIF schemes by relying on due diligence certificates issued by merchant bankers, reducing the time required for regulatory approvals.

Under the proposed framework, merchant bankers could provide due diligence certification for specific schemes, while AIF managers would handle disclosure-related due diligence for schemes meant exclusively for accredited investors. The regulator plans to consult the industry before finalising the proposal.

Pandey noted that India’s AIF industry has expanded rapidly, with over 1,700 registered AIFs, total commitments of around Rs 15.74 lakh crore, and investments of about Rs 6.45 lakh crore as of December 2025, reflecting nearly 30 per cent CAGR over the past five years.

However, he cautioned that mis-selling and product suitability remain key concerns, stressing that AIFs are meant for sophisticated investors due to their long investment horizons, complex structures and higher risk-return profiles.

Pandey also highlighted that only about Rs 205 billion of AIF capital had been invested in start-ups so far, indicating scope for greater allocation towards innovation and emerging sectors.

He emphasised that valuation discipline, transparency and governance are crucial for investor trust. Measures such as dematerialisation of AIF units and reporting of net asset value (NAV) to depositories are expected to strengthen monitoring and reduce operational risks.

Pandey added that in the current geopolitical environment, private capital must help build economic resilience by supporting sectors such as renewable energy, energy storage, logistics, strategic manufacturing and supply-chain infrastructure.

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