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 Tejas Networks Limited under the Portfolio Investment Scheme (PIS).

The Reserve Bank has stated that M/s Tejas Networks Limited has passed resolution at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing investment limit under Portfolio Investment Scheme from 24 to 49 per cent and for increasing the NRI investment limit under Portfolio Investment Scheme from 10 to 24 per cent of the paid up capital of the company. The purchases could be made through primary market and stock exchanges.

The Reserve Bank has notified this under FEMA 2000.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/3248