RBI allows FIIs to buy up to 49% Stake in Inox Leisure

The Reserve Bank of India on Tuesday allowed foreign institutional investors to purchase up to 49 per cent stake in Inox Leisure, the diversification venture of the INOX group into entertainment, under the portfolio investment scheme. 

 

“Foreign Institutional Investors (FIIs) can now invest from existing 24 per cent up to 49 per cent of the paid up capital of Inox Leisure Limited under the portfolio investment scheme (PIS),” RBI said in a notification. 

 

The central bank has stated that the company has passed resolution at its board of directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs. The purchases could be made through primary market and stock exchanges, it added. 

 

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