Hathway Cables ups aggregate FII investment limit to 49 per cent: RBI
21 May 2010
Hathway Cables & Datacom Limited has raised the aggregate ceiling for purchase of its equity shares and convertible debentures by foreign institutional investors (FIIs), through primary market and stock exchanges, under the portfolio investment scheme up to 49 per cent of its total paid up capital, the Reserve Bank of India notified today.
The company has passed a resolution at the board of directors' level and by a special resolution by its shareholders to do so, RBI said.
Foreign institutional investors can now purchase under the portfolio investment scheme through primary market and stock exchanges, equity shares of Hathway Cables & Datacom Limited, provided the company ensures that the total foreign director investment, including foreign institutional investments (FDI+FII) in the company does not reach the cap of 49 per cent, RBI said.
The purchases of equity shares by a single FII/SEBI approved sub-account of a registered FII in the company should not exceed 10 per cent of the paid-up equity capital of the company.