Financial Daily
from THE HINDU group of publications
Friday, September 07, 2001
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Financial Daily from THE HINDU group of publications Friday, September 07, 2001 |
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FII limit hiked
Our Bureau
MUMBAI, Sept. 6
FIIs can now purchase equity shares and convertible debentures up to 49 per cent of the paid-up capital of Crisil, Global Tele Systems Ltd, Reliance Industries Ltd and Reliance Petroleum Ltd through the primary and secondary markets.
These companies have passed special resolutions at the their AGMs to this effect, according to an RBI press release.
In the case of SSI Ltd, the FIIs can now buy up to 40 per cent of the paid-up capital of the company.
Non-Resident Indians (NRIs) and overseas corporate bodies (OCBs) can also purchase equity shares and convertible debentures of Crisil up to 24 per cent of its paid-up capital, under the portfolio investment scheme (PIS).
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