The Reserve Bank of India has today notified that no further purchases of equity shares of Premier Explosives Limited, should be made on behalf of Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) through secondary market in India without obtaining the prior permission of the Reserve Bank. The Reserve Bank has stated that Premier Explosive Limited, has reached the limit of 8 per cent of its paid up capital.

Ajit Prasad
Manager

Press Release : 2007-2008/395