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The
Reserve Bank of India has today notified that under Portfolio Investment Scheme
(PIS), Foreign Institutional Investors (FIIs) can now purchase equity shares
and convertible debentures of ERA Construction (India) Ltd., through primary
markets and stock exchanges in India. The purchases can be made upto 40 per
cent of the paid up capital of the company, as it has passed resolution to this
effect at the Board of Directors' meeting and a special resolution passed by
way of postal ballot.
P.
V. Sadanandan
Manager
Press Release : 2006-2007/1205
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