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RBI Approves Up To 100% FII Investment In Crompton Greaves

BI India BureauDec 19, 2014, 17:22 IST

The Reserve Bank of India (RBI) has allowed foreign institutional investors to invest up to 100% of the paid up capital in Crompton Greaves.

"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 100% of the paid up capital of Crompton Greaves Limited under the Portfolio Investment Scheme (PIS)," said RBI.

RBI’s permission comes after the company's board of directors and shareholders passed resolutions to increase the limit for the purchase of its equity shares and convertible debentures by FIIs.

FIIs, non-resident Indians and persons of Indian origins (PIOs) are allowed to invest in primary and secondary capital markets in India through precision investment services. RBI oversees FII/NRI/PIO investments in Indian companies on a daily basis. The shares of Crompton Greaves jumped 6% to Rs 190 in today’s morning trade.