The Reserve Bank has allowed foreign investors to up their stakes in cable TV distribution company GTPL Hathway to up to 49 per cent.
Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in GTPL Hathway Ltd has increased from 24 per cent to 49 per cent of its paid up capital,
FIIs, NRIs and PIOs (Persons of Indian Origin) can invest in primary and secondary capital markets in India through PIS. RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points that are two percentage points lower than the actual ceiling.
Shares of GTPL Hathway closed 4.16 per cent up at Rs. 134 and CCL Products rose by 6.32 per cent to Rs. 302.65 on BSE. – The Hindu Businessline