Foreign institutional investors' shareholding limit in Airtel hiked to 74 per cent
The Reserve Bank of India (RBI) has increased the limit of investments by foreign institutional investors (FIIs) and registered foreign portfolio investors in Bharti Airtel to 74 per cent of the company’s paid-up capital. This is permitted under the portfolio investment scheme. Earlier, Bharti Airtel's Board of Directors and shareholders had approved the proposal to increase limit on the purchase of equity shares and convertible debentures by FIIs. As of March 2014, the FIIs held about 16.39 per cent stake in the operator.
FIIs, non-resident Indians (NRIs) and persons of Indian origin (PIOs) can invest in the primary and secondary capital markets in India through the portfolio investment scheme. The RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis.
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