RBI allows foreign investors to buy up to 40% in J Kumar Infra

Reserve Bank has allowed foreign investors to invest up to 40 per cent in J Kumar Infraprojects under portfolio investment scheme (PIS).
Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest, from existing 24 per cent, up to 40 per cent of the paid-up capital of J Kumar Infraprojects Ltd under the Portfolio Investment Scheme (PIS), RBI said in a release.
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, RBI added.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.

The RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off points that are two percentage points lower than the actual ceiling.
Company's share closed at Rs 213.90 on BSE, down 1.86 per cent from previous close.