The Reserve Bank of India (RBI) announced that foreign institutional investors (FIIs) can now invest upto 74% of the paid up capital of Bharti Airtel under the Portfolio Investment Scheme.
The Reserve Bank said 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 and convertible debentures by FIIs.
Shares of the company gained Rs 3, or 0.89%, to trade at Rs 340.35 at the BSE (10.25 a.m., Friday).