FIIs/FPIs can now invest 24 to 49 per cent under PIS in M/s Satin Creditcare Network Limited
June, 20th 2017
The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) can now invest from 24 per cent to 49 per cent of the paid up capital of M/s Satin Creditcare Network Limited under the Portfolio Investment Scheme (PIS).
The Reserve Bank has stated that M/s Satin Creditcare Network Limited has passed necessary resolution at Board of Directors` level and in its Annual General Meeting for increasing the FII/FPI investment limit under Portfolio Investment Scheme from 24% to 49% of the paid up capital of the company. The FIIs/FPIs can now purchase equity shares upto 49% of the paid-up capital of the company through primary/secondary markets in India.