INDIA: India Investment by FIIs, NRIs, PIOs under PIS : Ms Gujarat Pipavav Port Limited and Ms Kavveri Telecom Products Ltd

Tuesday December 6 2011

The Reserve Bank of India has notified that the aggregate net purchases of equity shares in M/s Gujarat Pipavav Port Limited by India Foreign Institutional Investors/Non Resident Indian /Persons of Indian Origins in primary/secondary markets under Portfolio Investment Scheme have reached the trigger limit. Therefore, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India.

The Reserve Bank of India has also notified that the aggregate net purchases of equity shares in M/s Kavveri Telecom Products Ltd. by Foreign Institutional Investors/Non Resident Indian/Persons of Indian Origins in primary/secondary markets under Portfolio Investment Scheme have reached the trigger limit. Therefore, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India.

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