The International Financial Services Centres Authority (IFSCA) on January 27, 2026, issued the notification regarding the One-time window to extend the validity of the Placement Memorandum.
The following has been stated namely: -
• Under the FM Regulations, 2025, PPMs of Venture Capital and Restricted Schemes are valid for 12 months, but fundraising timelines are market-dependent and many schemes faced expiry issues.
• IFSCA is notifying FM (Amendment) Regulations, 2026 and has introduced a one-time 3-month window to extend PPM validity for schemes whose PPMs have expired or are about to expire.
• Such Venture Capital and Restricted Schemes may re-file their PPM within 3 months, without material changes, on payment of 50% of the fresh filing fee, to get a 6-month extension from the date the re-filed PPM is taken on record.
• Schemes that started investing after raising USD 1 million but failed to reach USD 3 million may also seek extension within the window, with 50% of the fresh filing fee, and the extension will run from the PPM expiry date.
• After using this one-time window, schemes may seek further extensions as per FM Regulations, subject to fees.
This is with effect from January 27, 2026.
[Notification No. IFSCA-IF-10PR/1/2023- Capital Markets/27012026]
