RBI notificaton on FII/NRI investment in India Bulls

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Mumbai, Apr 2 (UNI) The Reserve Bank of India (RBI) today notified that Foreign Institutional Investors (FIIs)/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) can now purchase equity shares and convertible debentures of India Bulls Securities, through primary markets and stock exchanges in India under Portfolio Investment Scheme (PIS).

The purchases could be made up to the total limit of 100 per cent in case of FIIs and 24 per cent in respect of NRI/PIO of the paid up capital of the Company. India Bulls has already passed resolutions to this effect at the Board of Directors' and the General Body Meetings.

The revised FII limit of 100 per cent and NRI 24 per cent were within the overall 100 per cent FDI limit applicable to the Company, the RBI said.


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