Welcome Guest Login | Register | Site Map | | Make TelecomTiger my homepage     
Telecom News
Enterprise |  Policy & Regulation |  Mobiles & Tabs |  Corporate |  VAS |  People Movement  |  Technology  |  LTE
Policy & Regulation
RBI allows FII limit hike of up to 49 % stake in Idea Cellular
TT Correspondent |  |  17 Jun 2014

Foreign institutional investors (FIIs) can now purchase up to 49 % stake in telecom operator Idea Cellular Ltd. Earlier the limit for the FII was 24 % in the company, reports PTI.
FIIs, through primary market and stock exchanges, can now purchase up to 49 % of the paid up capital of Idea Cellular Limited under the Portfolio Investment Scheme (PIS)," the Reserve Bank of India (RBI) said in release.
The decision to increase the FII limit in the company has come after passage of resolution at the board of directors' level and a special resolution by the shareholders for enhancing the limit from 24 % to 49 %.
As per the data available on the BSE, FIIs held 19.51 % share in the company as of quarter ended March 2014.
Having agreed to increase the FIIs shareholding limit to 49 %, the downstream investment in the company would continue to remain on Idea Cellular, in compliance with FDI (foreign direct investment) policy and FEMA (Foreign Exchange Management Act) regulations.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through Portfolio Investment Scheme (PIS).
RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis.

 mail this article    print this article    Show and Post comment
17 Jun 2014(IST)  
Maintain Business Continuity with Cisco ASR 9000 nV Technology
It is a virtual chassis solution where a pair of ASR 9000 routers acts as a single device by maintaining a single contr...read more
Simplify Your Network with Cisco ASR 9000 nV Technology
With the new Cisco Network Virtualization (nV) technology in the Cisco ASR 9000 Series Aggregation Services Routers, se...read more
Cisco Small Cell Solution: Reduce Costs, Improve Coverage
It is designed to address the challenge of mobile service coverage and to expand network capacity...read more