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Date : Dec 13, 2017
Monitoring of Foreign Investment under PIS in Indian Companies– M/s Manpasand Beverages Ltd.-
1. Increase in FPIs Investment limit under Portfolio Investment Scheme from 24 % to 49%
2. Removal from the FPIs Caution List

The Reserve Bank of India has today notified that the foreign investment limit for investment by Foreign Portfolios Investors (FPIs) in M/s Manpasand Beverages Ltd. has increased from 24% to 49% of its paid up capital. M/s Manpasand Beverages Ltd. 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) of Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2017 dated November 07, 2017, 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 the above investment limit, it is notified that the aggregate shareholding by FPIs in M/s Manpasand Beverages Ltd. has gone below the prescribed FPIs investment limit for the company. Hence, the restrictions placed on the purchase of shares of the above company by FPIs, vide our Press Release: 2017-2018/1042 dated October 13, 2017, are withdrawn with immediate effect.

Ajit Prasad
Assistant Adviser

Press Release : 2017-2018/1620