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Date : Aug 13, 2014
FIIs can now invest up to 80 per cent under PIS-FIIs/RFPIs in M/s KPIT Technologies Limited

The Reserve Bank of India has today advised that foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 80 per cent (revised from earlier limit of 49 per cent) of the paid up capital of M/s M/s KPIT Technologies Limited (formerly KPIT Cummins Infosystems Limited) under the Portfolio Investment Scheme.

The Reserve Bank has stated that the company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs. The purchases could be made through primary market and through stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20 dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.

The Reserve Bank has notified this under FEMA 1999.

Ajit Prasad
Assistant General Manager

Press Release : 2014-2015/329


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