Increase in Foreign investment limit in an Indian Company under PIS - M/s Apollo Tyres Limited - ಆರ್ಬಿಐ - Reserve Bank of India
Increase in Foreign investment limit in an Indian Company under PIS - M/s Apollo Tyres Limited
The Reserve Bank of India today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs), through primary market and stock exchanges, can now purchase up to 45 per cent of the paid up capital of M/s Apollo Tyres Limited under the Portfolio Investment Scheme (PIS). M/s Apollo Tyres Limited has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from 40 per cent to 45 per cent for the purchase of its equity shares and convertible debentures by FIIs/ RFPIs. The Reserve Bank has notified this under FEMA 1999, regarding raising of aggregate ceiling for investments by FIIs in Indian companies under Portfolio Investment Scheme (PIS). Ajit Prasad Press Release : 2014-2015/696 |