Great Offshore to raise FII investment limit to 49%

New Delhi, July 26 (UNI) Great Offshore Ltd today said it will consider an increase in the limit of investment by Foreign Institutional Investors (FIIs) from the permitted level of 24 per cent of the paid-up equity capital to 49 per cent.

The directors of the company are scheduled meet on July 30, 2007 to consider the proposal.

Meanwhile, Great Offshore had earlier in the month won five contracts from ONGC for its jack-up rig.

At 1600 hours, Great Offshore is quoting at Rs 814.45, up Rs five, or 0.62 per cent.

UNI