Press Releases

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Date : Apr 20, 2015
FIIs/RFPIs can now invest up to 49% under PIS in M/s GSS Infotech Limited

The Reserve Bank of India has today advised that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49 per cent of the paid up capital of M/s GSS Infotech Limited under the Portfolio Investment Scheme (PIS).

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/RFPIs. The purchases could be made through primary market and stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20/2000-RB dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.

The Reserve Bank has further stated that the foreign shareholding by Flls/RFPIs in M/s GSS Infotech Limited have gone below the revised threshold limit. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.

The Reserve Bank has notified this under FEMA 1999.

Ajit Prasad
Assistant General Manager

Press Release : 2014-2015/2210


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