Investment by FIIs under PIS - M/s Neha International Limited - ଆରବିଆଇ - Reserve Bank of India
Investment by FIIs under PIS - M/s Neha International Limited
The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs) can now purchase under Portfolio Investment Scheme (PIS) equity shares and convertible debentures of M/s Neha International Ltd. through primary market and stock exchanges in India upto 49 per cent of their paid up capital as the company has passed resolutions at their Board of Directors' level and Extra-Ordinary General Meeting to this effect. (i) The total purchase of shares by all NRI/PIOs both on repatriation and non-repatriation should be within an overall ceiling limit of (a) 24% of the total paid up equity capital of the bank of (b) 24% of its total paid up value of each series of convertible debenture; (ii) Investments made both on repatriation and non-repatriation basis, by any single NRI/PIO in the equity shares and convertible debentures should not exceed 5 percent (Five percent) of the paid-up equity capital of the bank or 5 percent of total paid-up value of each series of convertible debentures issued by the above company.
Press Release : 2008-2009/1940 |