The Reserve Bank of India (RBI) said on Thursday that foreign institutional investors (FIIs) and registered foreign portfolios investors (RFPIs) can now invest up to 49% of the paid up capital of Tree House Education & Accessories under the Portfolio Investment Scheme (PIS).

The Reserve Bank has stated that the company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20/2000-RB dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.

Shares of the company gained Rs 5.85, or 1.36%, to settle at Rs 437.50. The total volume of shares traded was 32,769 at the BSE (Thursday).