The Reserve Bank of India today notified that M/s. Everonn Education Limited has passed a resolution at the board of directors' level and at the extra-ordinary general meeting to enhance the limit for purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges, under the Portfolio Investment Scheme up to 100 per cent of its total paid up capital.

Foreign Institutional Investors can now purchase equity shares of M/s. Everonn Education Limited through primary market and stock exchanges under the Portfolio Investment Scheme, provided :

1. The overall limit for FII's purchases has now been raised to 100 per cent.

2. The purchases of equity shares by a single FII/SEBI approved sub-account of a registered FII in the company does not exceed 10% (ten per cent) of the paid-up equity capital of the company.

 J.D. Desai
Assistant Manager

Press Release : 2009-2010/1651