Mumbai: Foreign investors can now invest up to 40 percent of the paid-up capital in Edelweiss Financial Services, up from earlier limit of 28 percent.
"The foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 40 percent of the paid-up capital of Edelweiss Financial Services Limited under the Portfolio Investment Scheme," RBI said in a notification.
The enhanced limit for such investment follows passage of resolutions at board of directors' level and a special resolution by shareholders agreeing to up the limit from 28 percent to 40 percent for the purchase of company's equity shares and convertible debentures by FIIs.
FIIs, RFPIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through Portfolio Investment Scheme.
As of quarter ended September 30, 2014, FIIs held 22.61 percent share in Edelweiss Financial Services, as per data on BSE.
Shares of the company today closed at Rs 53.45 apiece on the BSE, down 0.09 percent from the previous close.
