RNRL raises FII limit to 74 pc of equity

Mumbai, Mar 31 (UNI) Reliance Natural Resources Ltd (RNRL) has increased the limit of FIIs' (foreign institutional investors) investment in the company upto 74 per cent of its paid-up equity capital.

The company's board members have passed the special resolutions to the effect, by way of postal ballot, with requisite majority, it informed the BSE.

The special resolutions also dealt with various other matters, including shifting of registered office of the company from Maharashtra to Goa. It also cleared increasing the authorised share capital and alteration of Clause V of the memorandum of association of the company, besides amendment of Article 3 of the Articles of Association of the company.

Issue of securities under employees stock option scheme, increasing the borrowing limits of the company, creation of mortgage or charge on company's assets and issue of securities in the international markets in one or more currencies were also cleared through postal ballot, with the requisite majority.

UNI SN GK SKB1823