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RBIRBI and FEMAFC-GPR

FC-GPR (issue of equity instruments to a non-resident)

The SMF report for equity instruments that an Indian company issues to a person resident outside India.

How this is timed

Issue of equity instruments

Counted from issue of equity instruments to a person resident outside India

Regulator
RBI
Category
RBI and FEMA
Form
FC-GPR
Last verified
2026-09-01
Read statutory basisOpen filing portal

FC-GPR is due within 30 days from the issue of equity instruments to a person resident outside India. The company files it through the Single Master Form on FIRMS. Public issue and qualified institutional placement allotments are outside FC-GPR.

What changed

RBI released draft FEMA (Foreign Investment) Rules, 2026 on 21 July 2026. They were not notified by 1 September 2026, so the NDI Rules 2019 position still applies. Re-check this row when the final rules are notified because its legal basis may be re-based.

Deadlines counted from an event

These have no calendar date. The clock starts when the event happens.

Issue of equity instrumentsfrom issue of equity instruments to a person resident outside India

File FC-GPR not later than 30 days from the date of issue.

The rule

Stated as the law states it, so you can work out any period yourself.

Issue of equity instruments

File FC-GPR not later than 30 days from the date of issue.

Who must comply

  • An Indian company that issues equity instruments to a person resident outside India
  • An Indian company that issues shares on exercise of an ESOP or on conversion of a convertible note

Carve-outs

  • An allotment under a public issue does not use FC-GPR
  • An allotment under a qualified institutional placement does not use FC-GPR

Statutory basis

Read the provision here where we hold it, or on the regulator's site.

Before you file

  • Complete the issue of the equity instruments.
  • Keep the entity master current on FIRMS.
  • Register the business user for the Single Master Form.

How to file

  1. 1Open the Single Master Form on FIRMS.
  2. 2Select FC-GPR.
  3. 3Enter the issue details.
  4. 4Submit the form within 30 days from the issue date.

FIRMS Single Master Form portal

Recent changes affecting this

From the regulator's own circulars and notifications.

rbi21 Jul 2026Press release

Rationalisation of Foreign Exchange Management (Non-Debt Instruments) Rules

The Reserve Bank of India has released draft Foreign Exchange Management (Foreign Investment) Rules, 2026, for public consultation. This initiative follows the Union Budget 2026-27 announcement to review the existing 2019 NDI Rules to create a more contemporary and user-friendly framework. The proposed changes aim to simplify regulatory architecture, harmonize definitions, align procedural FEMA provisions with FDI policy, and reduce compliance burdens. Stakeholders are invited to review the draft and submit feedback via the RBI's 'Connect 2 Regulate' portal or email by August 31, 2026. The final rules will be notified following this consultation process.

rbi15 Jun 2026Notification

Foreign Exchange Management Mode of Payment and Reporting of Non-Debt Instruments Amendment Regulations

The Reserve Bank of India amends the regulations for non-debt instruments. The update revises payment modes and remittance procedures for investments by individuals resident outside India, including Non-Resident Indians and Overseas Citizens of India. It specifies payment channels for National Pension System subscriptions and equity instruments. The amendment also defines payment and remittance rules for equity shares of Indian companies listed on international exchanges. Furthermore, the regulation updates reporting requirements for Authorised Dealer Category I banks. These banks must report the purchase or transfer of equity instruments by individual foreign investors to the Reserve Bank of India using Form LEC (IFI). These changes take effect upon publication in the Official Gazette.

rbi15 Jun 2026Notification

Liberalisation of Foreign Portfolio Investment under Schedule III of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019

The Reserve Bank of India permits all individual persons resident outside India to invest in equity instruments of listed Indian companies on recognized stock exchanges. This change expands eligibility beyond Non-Resident Indians and Overseas Citizens of India. Authorized Dealer Category-I banks must open repatriable INR accounts for these investors under the Foreign Exchange Management (Deposit) Regulations, 2016. Banks must monitor investment limits and report transactions using the existing framework for Non-Resident Indians. If investments exceed prescribed limits, banks must reclassify them as Foreign Direct Investment according to the framework for Foreign Portfolio Investors. Banks must establish systems to ensure compliance with all applicable rules and SEBI regulations. These directions take effect immediately.

rbi13 Jun 2026Notification

Foreign Exchange Management Mode of Payment and Reporting of Non-Debt Instruments Amendment Regulations

The Reserve Bank of India amends the regulations for non-debt instruments. The update revises payment modes and remittance procedures for investments by individuals resident outside India, including Non-Resident Indians and Overseas Citizens of India. It specifies requirements for National Pension System subscriptions and investments on international exchanges. The amendment also updates reporting obligations for Authorised Dealer Category I banks regarding equity instrument transactions by individual foreign investors. These banks must report purchases or transfers of equity instruments by individuals resident outside India on Indian stock exchanges using Form LEC (IFI). The regulations take effect from the date of publication in the Official Gazette.

Common questions

Does FC-GPR cover shares issued when an employee exercises an ESOP?

Yes. Form ESOP reports the issue of the option. FC-GPR reports the shares issued when the option is exercised.

Last verified 2026-09-01. Confirm against the official source before you rely on it.