The Reserve Bank of India today notified that M/s. REI Agro Limited has passed a resolution at the board of directors' level and by a special resolution by the shareholders 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 75 per cent of its total paid up capital.

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

1. The total purchases of all FIIs does not exceed the applicable overall ceiling limits of 75% of total paid-up equity capital and total paid-up value of each series of convertible debentures, of the said company.

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.

Ajit Prasad
Manager

Press Release : 2010-2011/56