The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 40 per cent of the paid up capital of M/s Panyam Cements & Mineral Industries Limited under the Portfolio Investment Scheme (PIS).

Further the Reserve Bank advise that the foreign shareholding by FIIs in M/s Panyam Cements & Mineral Industries Limited have gone below the revised threshold limit. Hence, the restrictions placed on the purchase of shares of the above company vide RBI Press Release : 2010-2011/57 dated July 09, 2010 are withdrawn with immediate effect

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.

The Reserve Bank has notified this under FEMA 1999.

Anirudha D. Jadhav
Assistant Manager

Press Release : 2015-2016/2028