The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) can now invest upto 49 per cent from earlier default limit of 24 per cent and Non-Resident Indians (NRIs) can invest upto 24 per cent from earlier default limit of 10 per cent of the paid up capital of M/s Security and Intelligence Services (India) Limited under the Portfolio Investment Scheme (PIS).

The Reserve Bank has stated that M/s Security and Intelligence Services (India)Limited has passed resolution at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/FPIs/NRIs. The purchases could be made through primary market and stock exchanges.

The Reserve Bank has notified this under FEMA 1999.

Shweta Mohile
Assistant Manager

Press Release : 2016-2017/2815