The Reserve Bank of India (RBI) has Monday said that Foreign Institutional Investors (FIIs), Registered Foreign Portfolios Investors (RFPIs) can now invest up to 30% of the paid up capital of Oberoi Realty 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 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 declined Rs 2.55, or 0.91%, to settle at Rs 277.70. The total volume of shares traded was 73,078 at the BSE (Monday).