The Reserve Bank of India today notified that M/s Parekh Aluminex Limited has passed resolutions at the board of directors' level and a special resolution by the shareholders, to enhance the limit for purchase of its equity shares and convertible debentures by NRIs/PIOs through primary market and stock exchanges up to 24 per cent of its paid up capital, under the Portfolio Investment Scheme (PIS).

Further the Reserve Bank of India has advised that the foreign share holding by Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) in this company have gone below the revised threshold limit stipulated under the extant FDI Policy. Hence, the restrictions placed on the purchase of shares of this company have been withdrawn with immediate effect.

Sabeeta Badkar
Assistant Manager

Press Release : 2013-2014/109