RBI-Investment by FIIs under PIS - Removal from the Ban List : M/s Kajaria Ceramics Limited
December, 12th 2013
The Reserve Bank of India today notified that M/s. Kajaria Ceramics Limited has passed resolutions at the board of directors' level and a special resolution by the shareholders, to enhance the limit for purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges, under the Portfolio Investment Scheme up to 40 per cent of its paid up capital.
The foreign share holding by FIIs in M/s Kajaria Ceramics Limited have gone below the revised threshold limit stipulated under the extant FDI Policy. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.