Foreign investors can now increase their stake in multi-system operator (MSO) DEN Networks up to 74 per cent as the Reserve Bank of India today cleared the proposal. “Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 74 per cent of the paid-up capital of DEN Networks Ltd under the Portfolio Investment Scheme (PIS),” the RBI said. The decision has come after DEN got the approvals from its board of directors and shareholders for increasing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. Earlier in August the MSO had received permission from the Finance Ministry to increase the foreign investment limit in the company from the existing 49 per cent to 74 per cent after FDI proposal was approved by the Foreign Investment Promotion Board (FIPB) on 13 July.
Read more at: http://www.televisionpost.com/cable/rbi-clears-way-for-foreign-investors-to-increase-stake-in-den-up-to-74/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/cable/rbi-clears-way-for-foreign-investors-to-increase-stake-in-den-up-to-74/ | TelevisionPost.com
