RBI permits FII investment under PIS in two companies

Mumbai, Nov 10 (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 Ganesh Housing Corporation Limited (Formerly Ganesh Housing Finance Corporation Limited) and M/s Micro Technologies (India) Limited.

The purchases could be made through primary market and stock exchanges in India upto 49 per cent of the paid up capital of the two companies, which have passed resolutions at their Board of Directors' level and Extra-Ordinary General Meeting to this effect, RBI said in a release.

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