RBI permits FIIs, NRIs to buy Indiabulls Infra shares
Press Trust of India / Mumbai Jan 20, 2012, 21:05 IST
The Reserve Bank of India (RBI) today allowed foreign institutional investors (FIIs) and NRIs to buy shares and convertible debentures of Indiabulls Infrastructure and Power.
"FIIs/Non-Resident Indians/Persons of Indian Origin can now purchase under the portfolio investment scheme equity shares and convertible debentures of Indiabulls Infrastructure and Power Ltd...," the central bank said in a statement.
It said FIIs can purchase shares and convertible debentures of up to 100% of the paid up capital of the company through primary market and stock exchanges.
With regard to NRIs/PIOs, it has permitted them to buy up to 24% of the paid up capital of the company.
"Indiabulls Infrastructure and Power 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 RBI said.
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