FII allowed to buy up to 30 per cent in Bajaj Auto Finance

Our Corporate Bureau
24 February 2007

Mumbai: The Reserve Bank of India (RBI) has allowed foreign institutional investors ro raise equity limit in Bajaj Auto Finance under the portfolio investment scheme to 30 per cent.

FIIs can now make purchases of equity shares and convertible debentures of Bajaj Auto Finance through primary markets and stock exchanges in India, the RBI said in a statement.

Purchases can be made up to 30 per cent of the paid-up capital of Bajaj Auto Finance. The RBI note follows the company's passing a resolution to this effect at its board meeting and a special resolution passed by its shareholders.