Media firm TV Today Network today said that its board has approved to increase the foreign investment limit in the company up to 26 per cent.
"The Board has approved the increase in foreign investment limit by FPI/ FII up to 26 per cent and by NRI up to 24 per cent of the paid-up capital of the Company, subject to the maximum permissible limit of 26 per cent of the paid-up capital of the company...," TV Today said in a regulatory filing to BSE.
However, it also said, the changes "would be subject to shareholders' approval".
Presently, the government allows up to 26 per cent FDI and investment by NRIs, PIOs, FIIs and FPIs in any firm which publishes newspaper and periodicals dealing with news and current affairs.
Shares of TV Today Network Ltd settled at Rs 220.15 on BSE, up 7.02 per cent from previous close.
