Foreign Institutional Investors (FIIs), including institutions such as Pension Funds, Mutual Funds, Investment Trusts, Asset Management Companies, Nominee Companies and Incorporated/Institutional Portfolio Managers or their Power of Attorney holders (providing discretionary and non-discretionary portfolio management services) are welcome to make investments under specified guidelines. FIIs are required to obtain an initial registration with the Securities and Exchange Board of India (SEBI), the nodal regulatory agency for the securities markets, before any investment is made by them in the securities of companies listed on the Stock Exchanges in India. Nominee companies, affiliates and subsidiary companies of a FII will be treated as separate FIIs for registration and may seek separate registration with SEBI.