Press Releases

PDF document (440 kb)
Date : Nov 09, 2015
FIIs/RFPIs can now invest up to 49 per cent under PIS in The Prestige Estate Projects Limited

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

The Reserve Bank has further advised that the foreign shareholding by FIIs/RFPIs in The Prestige Estate Projects 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 Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.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 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 notified this under FEMA 1999.

Ajit Prasad
Assistant General Manager

Press Release : 2015-2016/1115


2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Archives
Top