FIIs can buy up to 100 pc in Transwarranty Finance: RBI

The Reserve Bank has allowed foreign investors to buy up to 100 per cent of the paid up capital of Transwarranty Finance Ltd.
It has also allowed NRIs to invest up to 24 per cent in the same company.
"Foreign Institutional Investors/Registered Foreign Portfolios Investors and Non Resident Indians (NRIs) can now invest up to 100 per cent and 24 per cent respectively of the paid up capital of Transwarranty Finance Limited under the Portfolio Investment Scheme (PIS)," RBI said in a notification.
RBI said foreign shareholding by NRIs in Transwarranty Finance have gone below the revised threshold limit.
"Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect".

As per data available on BSE, the promoter held 53.61 per cent in the company as of September 30, 2015, while the rest of 46.39 per cent was held by others.

The company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs and NRIs, RBI said.
The company, headquartered in Mumbai, gives investment banking service to corporate and retail clients.
Transwarranty Finance shares closed at Rs 6.20 on BSE today, up 2.82 per cent from previous close.