RBI allows FII investment under PIS in Patni Computers

Mumbai, May 24 (UNI) The Reserve Bank of India (RBI) today said that the Foreign Institutional Investors (FIIs) can now purchase equity shares and convertible debentures of Patni Computers Ltd (PCS) under Portfolio Investment Scheme (PIS) through primary markets and Stock Exchanges in India.

The purchases can be made upto 74 per cent of the paid up capital of the company, as PCS ltd had passed resolutions to this effect at the Board of Directors and Extra Ordinary General Meetings, the RBI said.

UNI