The Reserve Bank of India today notified that Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 48 percent (revised from earlier limit of 45 per cent) of the paid up capital of M/s Tech Mahindra Limited under the Portfolio Investment Scheme (PIS). M/s Tech Mahindra Limited has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from 45 per cent to 48 per cent for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs).

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).

S. K. Gaonkar
Assistant Manager

Press Release: 2013-2014/1814