Press Releases

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Date : Jul 07, 2017
Monitoring of Foreign Investment under PIS in Indian Companies – M/s Fortis Healthcare Limited - Removal from the FIIs/ FPIs Ban List

The Reserve Bank of India has today notified that the Foreign Institutional Investors (FIIs)/ Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in M/s Fortis Healthcare Limited has increased from 24% to 74% of its paid up capital. M/s Fortis Healthcare Limited has passed necessary resolutions of its Board of Directors and General Body as required under the FEMA 1999 and the regulations framed thereunder. The increase is subject to regulation 5(2) and 5 (2A) of Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000 dated May 03, 2000, as amended from time to time, and the onus of compliance with the limits prescribed for the company is on the company.

Further, owing to the above increase in FIIs/FPIs investment limit, it is notified that the aggregate shareholding by FIIs/FPIs in M/s Fortis Healthcare Limited has gone below the prescribed FIIs/FPIs investment limit for the company. Hence, the restrictions placed on the purchase of shares by FIIs/FPIs of the above company, vide our Press release no-2016-2017/3165 dated May 24, 2017, are withdrawn with immediate effect.

Ajit Prasad
Assistant Adviser

Press Release : 2017-2018/77


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