The Reserve Bank of India has today notified that the foreign investment limit for investment by Foreign Portfolios Investors (FPIs) in M/s Healthcare Global Enterprises Limited has increased from 24% to 100% of its paid up capital. M/s HealthCare Global Enterprises Limited has passed necessary resolutions of its Board of Directors and General Body as required under the FEMA 1999 and the regulations framed thereunder. The increase is subject to regulation 5(2) of Notification No. FEMA 20(R)/ 2017-RB Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2017 dated November 07, 2017, as amended from time to time, and the onus of compliance with the limits prescribed for the company is on the company.

Further, owing to the above increase in the investment limit, it is notified that the aggregate shareholding by FPIs in M/s HealthCare Global Enterprises Limited has gone below the prescribed FPIs investment limit for the company. Hence, the restrictions placed on the purchase of shares of the above company by FPIs, vide our Press Release: 2017-2018/1920 dated January 12, 2018, are withdrawn with immediate effect.

Ajit Prasad
Assistant Adviser

Press Release: 2017-2018/1974