In a filing to the Bombay Stock Exchange (BSE), Kavveri Telecom has said that it has raised the investment limit for foreign institutional investors from 24 per cent to 35 per cent in its paid-up value of convertible debentures, say news reports.
This was carried out after a majority of company members approved the motion via the postal ballot route. It is believed that the company received a total of 170 postal ballot forms, of which 159 forms were valid.
The results showed that 152 ballots agreed to the proposal of raising the investment limit, while seven disagreed.
