INDIA: India Investment by FIIs – NRIs – PIOs under PIS

Tuesday January 24 2012

The Reserve Bank of India has notified that India Foreign Institutional Investors (FIIs)/Non Resident Indians (NRIs)/Persons of Indian Origin (PIOs) can now purchase under the Portfolio Investment Scheme equity shares and convertible debentures of M/s. Indiabulls Infrastructure and Power Limited as under: India FIIs through primary market and stock exchanges up to 100 per cent of the paid up capital of the company. NRIs/PIOs through primary market and stock exchanges up to 24 per cent of the paid up capital of the company.

M/s. Indiabulls Infrastructure and Power Limited has passed resolutions at the board of directors’ level and a special resolution by the shareholders, to enhance the limit for purchase of its equity shares and convertible debentures by these investors.

The Reserve Bank of India has also notified that M/s. Just Dial Limited has passed resolutions at the board of directors’ level and at a special resolution by the shareholders, to enhance the limit for purchase of its equity shares and convertible debentures by India Foreign Institutional Investors (FIIs), through primary market and stock exchanges, under the Portfolio Investment Scheme upto 49 per cent of its paid up capital.

Foreign Institutional Investors can now purchase equity shares and convertible debentures of M/s. Just Dial Limited through primary market and stock exchanges up to 49 per cent of the paid up capital of the company under the Portfolio Investment Scheme.

Click on the above link for more details.