The Reserve Bank of India Wednesday notified that foreign institutional investors (FIIs) and registered foreign portfolios investors (RFPIs) can now purchase shares of Hathway Cable & Datacom. "The investments can go up to 74% from revised from earlier limit of 49% stipulated under Foreign Direct Investment policy) of the company's paid up capital through GDR/ADR/FDI under the Portfolio Investment Scheme (PIS) in primary market and stock exchanges," the RBI said.

The Reserve Bank has, with immediate effect, withdrawn the restrictions placed on the purchase of shares of Hathway Cable & Datacom stating that the company has passed necessary resolutions at the level of its Board of Directors and shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs and RFPIs.

Hathway Cable and Datacom is one of India's leading multiple system operators.

Shares of the company gained Rs 4.35, or 10.77%, to trade at Rs 44.75. The total volume of shares traded was 52,626 at the BSE (9.48 a.m., Thursday).