Mumbai: The Reserve Bank Monday said FIIs and Registered Foreign Portfolios Investors can now invest up to 49 percent of the paid up capital of GSS Infotech under the Portfolio Investment Scheme (PIS).
RBI said the company has passed resolutions 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 and convertible debentures by FIIs/RFPIs.
"The purchases could be made through primary market and stock exchanges...," the RBI added.
It further stated that the foreign shareholding by Flls/RFPIs in the company have gone below the revised threshold limit.
"Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect," the RBI release added.
On BSE, company's share traded last at Rs 16.70 apiece, down 4.84 per cent over previous closing.
