RBI allows FIIs to pick up stake in Voltas

RBI has allowed the FIIs to purchase equity shares and convertible debentures of Voltas Ltd upto 30% of their paid up capital.

The Reserve Bank of India (RBI) on Tuesday allowed the Foreign Institutional Investors (FIIs) to purchase equity shares and convertible debentures of Voltas Ltd upto 30 per cent of their paid up capital.

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The Central Bank allowed the purchases from primary markets and stock exchanges following a resolution to this effect passed by the Voltas' board of directors' at its general body meeting.

"FIIs can now purchase under Portfolio Investment Scheme (PIS) equity shares and convertible debentures of Voltas Ltd through primary markets and stock exchanges in India upto 30 per cent of their paid up capital," the RBI release said.