FIIs/RFPIs can now invest up to 34 per cent under PIS in Container Corporation of India Ltd.

The Reserve Bank has stated that 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 and would be subject to Regulation 5(2) of FEMA Notification No.20/2000-RB dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.

RBI further advised that the foreign shareholding by FIIs/RFPIs in Container Corporation of India Ltd. has 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 Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.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 Reserve Bank has notified this under FEMA 1999.

Ajit Prasad Assistant General Manager

Press Release: 2014-2015/1875