The Reserve Bank of India today notified that the undernoted companies have agreed to enhance the limit for purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs) up to 49 per cent of its total paid up capital. The company has passed necessary resolution at the Annual General Meeting/Extra Ordinary General Meeting agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs and a special resolution by its shareholders to do so.

1. Hindustan Construction Co. Ltd.
2. Suzlon Energy Ltd.

Foreign Institutional Investors can now purchase under the Portfolio Investment Scheme through primary market and stock exchanges, equity shares and convertible debentures of the above companies, provided :

(i) The total purchases of all FIIs do not exceed the applicable overall ceiling limits of 49% of total paid-up equity capital and total paid-up value of each series of convertible debentures of the company.

(ii) 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.

Ajit Prasad
Manager

Press Release : 2009-2010/333