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13 July, 2020 07:07 IST
RBI hikes FII limit in Adani Ports to 49%
Source: IRIS | 03 Oct, 2016, 11.01AM
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The Reserve Bank of India (RBI) has Friday notified that foreign institutional investors (FIIs) and registered foreign portfolios investors (RFPIs) can under the portfolio investment scheme (PIS) now invest upto 49 per cent of the paid up capital of Adani Ports and Special Economic Zone. The purchases could be made through primary market and stock exchanges.

RBI said, ''The company's board of directors' has passed a resolution and its shareholders have passed a special resolution agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The Reserve Bank has notified this under FEMA 1999.''

Shares of the company gained Rs 7.5, or 2.92%, to trade at  Rs 264.25.  The total volume of shares traded  was  232,209 at the BSE (10.49 a.m., Monday).

Adani Ports and Special Economic Zone Limited   (Q,N,C,F)*

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