RBI allows foreign funds in 3 cos

RBI has allowed FII's to purchase equity shares and debentures of Sanghvi Motors, Cipla and India Cements.

The Reserve Bank of India (RBI) on Tuesday allowed foreign investors to purchase equity shares and debentures of Sanghvi Motors Ltd, Cipla Ltd and India Cements Ltd.

HT Image

Foreign Institutional Investors (FIIs) can now purchase equity shares and convertible debentures of these companies upto the limits of their paid up capital, under the Portfolio Investment Scheme(PIS), the central bank said.

These companies have passed resolutions to this effect at their Board of Directors' and General Body Meetings, the central bank said.