The Reserve Bank of India has today notified that under the Portfolio Investment Scheme (PIS), Foreign Institutional Investors (FIIs)/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) can now purchase equity shares and convertible debentures of M/s. Monnet Ispat & Energy Limited, through primary markets and stock exchanges in India. The purchases can be made up to the total limit of percentages, mentioned below, of the paid up capital of the company, as it has passed resolutions to this effect at their Board of Directors' and General Body Meetings.

(i) Foreign Institutional Investors (FIIs) 40%

(ii) Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) 24%

 

Sabeeta Badkar
Assistant Manager

Portfolio Investment Scheme permissions allow foreign and non-resident investors to acquire company equity through markets The Reserve Bank notified that under the Portfolio Investment Scheme, Foreign Institutional Investors and Non-Resident Indians/Persons of Indian Origin may purchase equity shares and convertible debentures of M/s. Monnet Ispat & Energy Limited through primary markets and stock exchanges, subject to company-designated limits of paid-up capital after Board and General Body resolutions enabling such investment.