The Reserve Bank of India (RBI) said on Tuesday that Foreign Institutional Investors (FIIs), through primary market and stock exchanges can now purchase up to 55% of the paid up capital of Jubilant FoodWorks under the Portfolio Investment Scheme (PIS).
Earlier the company has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from 49% to 55% for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs).
Accordingly, the Reserve Bank has notified, regarding raising of aggregate ceiling for investments by FIIs in Indian companies under PIS.