Press Releases

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Date : Apr 24, 2017
Decrease in Foreign Investment limit/ceiling under the PIS in Indian Companies from 49% to 47% - M/s Ujjivan Financial Services Limited

The Reserve Bank of India has today notified that M/s Ujjivan Financial Services Limited has passed resolutions at the Board of Directors’ level agreeing for decreasing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/ Foreign Direct Investment (FDI)/Qualified Foreign Investors (QFIs)/ American Depository Receipts (ADR)/Global Depository Receipts (GDR)/ Non-Resident Indians (NRIs)/ Persons of Indian Origin (PIOs) through primary market and stock exchanges upto 47% of the paid up capital of the company under Portfolio Investment Scheme. Hence FIIs/RFPIs/FDI/QFIs/ADR/GDR/NRIs/PIO investment limit under PIS for M/s Ujjivan Financial Services Limited stands decreased from 49 % to 47%.

Reserve Bank Further advise that M/s Ujjivan Financial Services Limited will continue to remain in the Ban list for FIIs/RFPIs/FDI/QFIs/ ADR/GDR/NRIs/PIO as per Press Release: 2015-2016/2918 dated June 15, 2016.

The Reserve Bank has notified this under FEMA 2000.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2879


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