The Reserve Bank of India today notified that M/s. Hathway Cables & Datacom Limited has agreed for raising the aggregate ceiling for purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges, under the Portfolio Investment Scheme up to 49 per cent of its total paid up capital. The company has passed a resolution at the board of directors' level and by a special resolution by its shareholders to do so.

Foreign Institutional Investors can now purchase under the Portfolio Investment Scheme through primary market and stock exchanges, equity shares of M/s. Hathway Cables & Datacom Limited, provided :

i) The company should ensure that the total "Foreign Director Investment + Foreign Institutional Investments (FDI+FII) "  does not reach the cap of 49 per cent.

ii) The purchases of equity shares by a single FII/SEBI approved sub-account of a registered FII in the company does not exceed 10% (Ten per cent) of the paid-up equity capital of the company.

Ajit Prasad
Manager

Press Release : 2009-2010/1576