Quantitative titan Renaissance Technologies is coming to the subcontinent.

The Securities and Exchange Board of India last month approved RenTech’s application for foreign institutional investor status. The designation allows the firm to participate directly in India’s financial markets.

SEBI last year unveiled a series of changes to make registration more palatable to overseas investors. In addition to taking a more liberal approach with hedge funds, the regulator also tightened rules for participatory notes, derivatives used by foreign investors to invest in Indian securities.

East Setauket, N.Y.-based RenTech is the largest hedge fund to register in India since the new scheme was unveiled. Other funds with foreign institutional investor status include D.E. Shaw, Och-Ziff Capital Management and Citigroup’s Old Lane.