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Sep 04, 2015
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Foreign Investors Can Invest up to 40% in Ashok Leyland
Reserve Bank has allowed foreign investors to invest up to 40 per cent of the paid up capital in Ashok Leyland. "Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 40 per cent of the paid up capital of Ashok Leyland Limited under the Portfolio Investment Scheme (PIS)," RBI said in a notification. The company 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/RFPIs.
The purchases could be made through primary market and stock exchanges, RBI said.
Source -
http://profit.ndtv.com
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