The Reserve Bank of India today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs), through primary market and stock exchanges, can now purchase up to 45 per cent of the paid up capital of M/s Apollo Tyres Limited under the Portfolio Investment Scheme (PIS).  M/s Apollo Tyres Limited has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from 40 per cent to 45 per cent for the purchase of its equity shares and convertible debentures by FIIs/ RFPIs.

The Reserve Bank has notified this under FEMA 1999, regarding raising of aggregate ceiling for investments by FIIs in Indian companies under Portfolio Investment Scheme (PIS).

Ajit Prasad
Assistant General Manager

Press Release : 2014-2015/696