Shareholders nod FII investment upto 49 pc in DSK Developers

Mumbai, May 9 (UNI) DS Kulkarni Developers Ltd has said that members at the Extra Ordinary General Meeting (EGM) of the company held on April 10, 2006, have accorded for Investment by Foreign Institutional Investors in the equity share capital of the company.

This will be either by direct investment or by purchase or otherwise by acquiring from the market under Portfolio Investment Scheme on repatriation basis, upto 49 per cent of the paid up equity share capital of the company, said a DSK press release.

The company will follow the limit as may be prescribed from time to time by the central Government and /or Reserve bank of India or any such other authorities, subject to necessary approvals and provisions.

The DSK group, a Rs.150 crore group, has started its business in 1970, venturing in the field of construction since 1981 and various other business fields like engineering, chemicals, hotels, trading house and import and export since 1996.

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