RBI permits FIIs to invest in three companies

Mumbai, Feb 21 (UNI) The Reserve Bank of India today notified that Foreign Institutional Investors (FIIs) can now purchase under Portfolio Investment Scheme (PIS) equity shares and convertible debentures of three Indian companies, including Info Edge (India) through primary and secondary markets.

RBI in a release here said that while investment into Info Edge could be upto 40 per cent, FIIs can invest upto 49 per cent in Tourism Finance Corporation of India. Investment in Tulip IT Services could be upto 40 per cent.

These companies have passed resolutions at their Board of Directors' level in their Extra-Ordinary General Meeting to this effect, the release said.

UNI VK NM SKB1855