Jubilant FoodWorks is trading higher by 2% at Rs 1,050 after the Reserve Bank of India (RBI) said that foreign institutional investors (FIIs) would be able to purchase up to 55% of the paid-up capital in the company. Jubilant FoodWorks operates Domino’s Pizza brand in the country.
The limit has been enhanced from earlier 49% that FIIs could acquire under the portfolio investment scheme (PIS) from primary market, RBI said in a notification.
With the enhancement in the limit of foreign buying, the RBI further said that the restrictions placed on the purchase of shares in the company are withdrawn with immediate effect.
Earlier in January, FIIs were restricted to purchase shares in Jubilant FoodWorks as the allowed buying by FIIs had reached trigger limit.
The stock opened at Rs 1,055 and touched high of Rs 1,065 on the BSE. A combined 57,274 shares changed hands on the counter in early morning deals on the BSE and NSE.
The limit has been enhanced from earlier 49% that FIIs could acquire under the portfolio investment scheme (PIS) from primary market, RBI said in a notification.
With the enhancement in the limit of foreign buying, the RBI further said that the restrictions placed on the purchase of shares in the company are withdrawn with immediate effect.
Earlier in January, FIIs were restricted to purchase shares in Jubilant FoodWorks as the allowed buying by FIIs had reached trigger limit.
The stock opened at Rs 1,055 and touched high of Rs 1,065 on the BSE. A combined 57,274 shares changed hands on the counter in early morning deals on the BSE and NSE.
