INDIA: Increase in FIIs/FPIs Investment Limit under Portfolio Investment Scheme from 24 % to 30%

Wednesday July 26 2017

On 26^th July 2017, the Reserve Bank of India announced that the foreign investment limit for investment by Foreign Institutional Investors (FIIs)/ Foreign Portfolios Investors (FPIs) in M/s Indraprastha Gas Limited has increased from 24% to 30% of its paid up capital. M/s Indraprastha Gas 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) and 5 (2A) of Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000 dated May 03, 2000, as amended from time to time, and the onus of compliance with the limits prescribed for the company is on the company.

Click here for list of companies allowed to attract investments from FIIs/NRIs/PIOs with their respective ceilings.

Click on the link above for further information.