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RBI allows foreign investors to increase stake up to 49 per cent in Tejas Networks

June 02, 2017

The Reserve Bank of India (RBI) has allowed foreign investors to increase their stake to 49 per cent from the earlier 24 per cent in telecom infrastructure firm Tejas Networks.

Foreign institutional investors (FIIs)/foreign portfolios investors (FPIs) can now invest up to 49 per cent from the earlier default limit of 24 per cent and non-resident Indians (NRIs) can invest up to 24 per cent from the earlier default limit of 10 per cent of the paid up capital of Tejas Networks. The investment allowance is line with the portfolio investment scheme.

Earlier, Tejas Networks had passed resolution at its board of directors’ level and a special resolution by the shareholders, agreeing for enhancing investment limit for FIIs/FPIs and NRIs.

 
 

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