At meeting held on 28 November 2014
Bajaj Corp announced that the Board of Directors of the Company at its meeting held on 28 November 2014, has passed necessary resolution for increase in the limit of total holding of all Registered Foreign Portfolio Investors (RFPI) with existing class of investors namely Foreign Institutional Investors (FIIs) and Qualified Foreign Investors (QFIs) registered with SEBI in respect of their existing shareholding in the Company, put together in equity share capital of the Company from existing 24% to 49% subject to approval by shareholders by way of Special Resolution and compliance with applicable formalities under relevant provisions of extant Foreign Exchange Management Act, 1999, Reserve Bank of India Regulations, the Foreign Direct Investment Policy (FDI policy) and SEBI (Foreign Portfolio Investors) Regulations, 2014.At the said meeting, the Board has also approved convening an Extraordinary General Meeting of the shareholders of the Company on 30 December 2014 to seek shareholders approval for the aforesaid increase in limit from existing 24% to 49%.
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