Monday, August 31, 2015

Godrej Consumer received RBI nod for FII stake hike

The Reserve Bank of India (RBI) on Friday said that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can buy up to 40%, revised from earlier 35% of the paid up capital of Godrej under the Portfolio Investment Scheme (PIS).

GSPL passed resolutions at board of directors' level and a special resolution by shareholders, agreeing to enhance 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, the RBI added.

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