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Business News/ Companies / Foreign investment limit raised to 40% in Adani Ports
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Foreign investment limit raised to 40% in Adani Ports

FIIs and FPIs can now invest up to 40% of the paid up capital of APSEZ under portfolio investment scheme

A file photo of Adani Ports and Special Economic Zone (APSEZ) in Gujarat. Shares of APSEZ on Monday closed at Rs311.60 apiece on the BSE, down 3.72% from previous close.Premium
A file photo of Adani Ports and Special Economic Zone (APSEZ) in Gujarat. Shares of APSEZ on Monday closed at Rs311.60 apiece on the BSE, down 3.72% from previous close.

Mumbai: The Reserve Bank of India (RBI) has allowed foreign investors to invest up to 40% of the paid up capital in Adani Ports and Special Economic Zone Ltd (APSEZ) under the portfolio investment scheme (PIS).

Foreign institutional investors (FIIs) and foreign portfolios investors (FPIs) can now invest up to 40% of the paid up capital of APSEZ under PIS, the central bank said in a notification.

The decision came after passage of a resolution, courtesy the company’s board, and a special resolution by the shareholders agreeing for enhancing the limit for the purchase of APSEZ’s equity shares and convertible debentures by FIIs/FPIs.

The purchases can be made through the primary market and stock exchanges.

As of 31 March, foreign investors held 18.63% in the company, as per data available on BSE. FIIs, NRIs and PIOs (persons of indian origin) can invest in primary and secondary capital markets in India through the portfolio investment scheme.

RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off points two percentage points lower than the actual ceiling.

Shares of APSEZ on Monday closed at Rs311.60 apiece on the BSE, down 3.72% from previous close.

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Published: 01 Jun 2015, 07:51 PM IST
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