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RBI notification on PIS for three companies

Written by: Staff

Mumbai, May 9 (UNI) The Reserve Bank of India (RBI) today notified that Foreign Institutional Investors (FIIs) can now purchase under the Portfolio Investment Scheme (PIS), equity shares and convertible debentures of Sanghvi Movers Limited, Cipla Limited and The India Cements Ltd.

A release issued here today stated that these purchases can be done through the primary markets and stock exchanges in India up to the limit of their paid up capital which stands at 35 per cent in the case of Sanghvi Movers and 40 per cent in the cases of Cipla and India Cements, respecively.


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