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Date : Jan 23, 2017
Investment under PIS in M/s Shankara Building Products Ltd By FIIs/RFPIs upto 49 per cent and NRIs upto 24 per cent

The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Resident Foreign Portfolios Investors (RFPIs) can now invest from the existing 24 per cent to 49 per cent and Non-Resident Indians (NRIs) can invest from default 10 per cent to 24 per cent of the paid up capital of M/s Shankara Building Products Limited under the Portfolio Investment Scheme (PIS).

The Reserve Bank has stated that M/s Shankara Building Products Limited 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 by FIIs/RFPIs/NRIs. The purchases could be made through primary market and stock exchanges.

The Reserve Bank has notified this under FEMA 1999.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/1970


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