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Informist, Tuesday, Aug. 12, 2025

NEW DELHI – The Securities and Exchange Board of India got richer in 2024-25 (Apr-Mar) on the back of a notable increase in regulatory fees and charges received from stock exchanges and from equity primary market prospectuses and offer documents. Data from SEBI's annual report for FY25, released Tuesday, showed it imposed regulatory fees and charges of INR 23.34 billion during the year, up 26% from INR 18.52 billion in FY24.

The single biggest contributor to SEBI's receipts of regulatory fees and charges was regulatory fees from stock exchanges. The market regulator got INR 12.67 billion as regulatory fees from stock exchanges in FY25, compared with INR 10.66 billion, indicating a rise of 19%.

The regulatory fees on stock exchanges imposed by SEBI is based on the specified slabs of the annual turnover in the cash market and equity derivatives segments. SEBI defines annual turnover for equity derivatives as the aggregate of traded value in futures contracts and notional turnover in options contracts.

The fees and charges collected by SEBI from market intermediaries comprises recurring and non-recurring fees and charges. The fee charged on annual turnover of stock exchanges is a recurring fee.

Due to elevated levels of initial public offers in FY25, SEBI's regulatory fee collection from offer documents and prospectus filed for equity primary market issues rose 2.6 times to INR 2.66 billion in FY25 from INR 1 billion in the previous financial year. These fees are non-recurring in nature.

The annual report showed SEBI got INR 1.98 billion as registration fee from members of the equity cash and equity derivatives segments of stock exchanges, 43% higher than INR 1.38 billion in FY24.

There was a notable rise in the recurring fees SEBI collects from custodians of securities. Custodians typically operate as service providers to domestic mutual funds, foreign portfolio investors, and other institutional investors for their trades settlement processing and other related activities.

The recurring fees from custodians rose 27% to INR 1.32 billion in FY25 from INR 1.04 billion. On other hand, recurring fees received from foreign portfolio investors were zero in FY25 as against INR 213 million in FY24. But non-recurring fees from FPIs rose to INR 733 million from INR 473 million, the data from SEBI's annual report showed.

SEBI's receipts from takeover fees, which are non-recurring in nature, rose to INR 873 million in FY25 from INR 532 million in the previous year. In the case of mutual funds, SEBI collects both recurring and non-recurring regulatory fees. Mutual funds paid SEBI recurring regulatory fees of INR 206 million in FY25, up from INR 187 million in the previous year, while their payment of non-recurring regulatory fees to SEBI increased to INR 124 million from 71 million.

Apart from receipts in the form of regulatory fees and charges, SEBI also earns interest from investments, lease rentals, and miscellaneous income. The total receipts by SEBI rose to INR 27.12 billion in FY25 compared with INR 20.75 billion in FY24. The interest from investments jumped up to INR 3.26 billion in FY25 from INR 1.92 billion in the previous year.  End

Reported by Rajesh Gajra

Edited by Akul Nishant Akhoury

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