India, Oct. 3 -- India's markets regulator has begun discussions on bringing family offices under its oversight, as the nation's billionaires become a growing force on exchanges, according to people familiar with the matter.

The discussions include asking family offices to disclose their entities, assets and investment returns for the first time, as well as a separate category to regulate the investment vehicles, said the people who asked not to be identified discussing private information.

The Securities & Exchange Board of India wants more visibility into how sprawling family-run conglomerates invest in publicly traded securities and the potential risks, said the people. The watchdog held meetings with some of the nation's biggest fam...