RBI allows up to 26% foreign investment in TV Today

As per data available on BSE, foreign investors held 0.02% in TV Today Network as on September 30

The Reserve Bank of India (RBI) has allowed foreign investors to invest up to 26 per cent in TV Today Network Ltd.

"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 26 per cent of the paid-up capital of TV Today Network Ltd under the Portfolio Investment Scheme (PIS)," the central bank said.

According to data available on the BSE, foreign investors held 0.02 per cent in TV Today Network as on September 30.

RBI said 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 and convertible debentures by FIIs/RFPIs.

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 two percentage points lower than the actual ceiling.

TV Today Network shares closed at Rs 254.40 on BSE today, down 1.59 per cent.