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At present, AIFs have been designated as qualified institutional buyers(QIB) and can avail certain benefits under Sebi rules. On Tuesday, Sebi said AIFs should not facilitate investors who are ineligible for QIB status on their own from availing the benefits.
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This will be India's largest public issue, surpassing the previous record set by the 21,008-crore public issue of the state-owned Life Insurance Corporation of India in May 2022.
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There is some concern tax rises in the Budget could prompt an exit of the super-rich, hurting UK finances.
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