RBI allows FIIs to buy Sadbhav Engineering Ltd's shares

Mumbai, Sep 19 (UNI) The Reserve Bank of India (RBI) today notified that Foreign Institutional Investors (FIIs) can now purchase equity shares and convertible debentures of M/s Sadbhav Engineering Limited, through primary markets and stock exchanges in India, under Portfolio Investment Scheme (PIS).

RBI, in a release, said ''The purchases can be made upto 49 per cent of the paid up capital of the company, as it has passed resolutions to this effect at the Board of Directors' and the Extra-Ordinary General Meetings.'' UNI AR SSS AG1859