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Investment by FIIs under PIS

The Reserve Bank of India has notified today that Foreign Institutional Investors (FIIs) can now purchase under Portfolio Investment Scheme (PIS) equity shares and convertible debentures of the following companies through primary and secondary markets in India upto the limits of their paid up capital shown against their names, as these companies have passed resolutions at their Board of Directors'  level and  have passed resolutions in their Extra-Ordinary General Meeting to this effect.

1.

Tulip IT Services Ltd.

40 per cent

2.

Info Edge (India) Ltd

40 per cent

3.

Tourism Finance Corporation of India Ltd

49 per cent

Ajit Prasad
Manager

Press Release :2007-2008/1109

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