The Reserve Bank of India (RBI) has allowed foreign institutional investors (FIIs) and registered foreign portfolios investors (RFPIs) to invest up to 40% in Edelweiss Financial Services  under the Portfolio Investment Scheme.

The company has passed resolutions at its board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from 28% to 40% for the purchase of its equity shares and convertible debentures by FIIs.

The purchases could be made through primary market and through stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20 dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.

Shares of the company declined Rs 0.05, or 0.09%, to settle at Rs 53.45. The total volume of shares traded was 191,097 at the BSE (Wednesday).