Reserve Bankk of India has increased foreign institutional investors' (FII) investment limit in KPIT Techonologies to 80% of its paid-up capital. RBI has notified that FII./Registered Foreign Portfolios Investors (RFPIs) can now invest up to 80 per cent (revised from earlier limt of 49 per cent) of the paid up capital of KPIT Technologies (formerly KPIT Cummins Infosystems) under the Portfolio Investment Scheme.
The company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs. The purchases could be made through primary market and through stock exchange and would be subject to Regulation5(2) of FEMA Notification No 20 dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by RBI.
KPIT Techonologies is one of the fastest growing global product engineering and IT consulting partners, focused on co-innovating domian intensive technology solutions for automotive & transportaion, manufacturing and energy & utilities corporations.
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The company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs. The purchases could be made through primary market and through stock exchange and would be subject to Regulation5(2) of FEMA Notification No 20 dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by RBI.
KPIT Techonologies is one of the fastest growing global product engineering and IT consulting partners, focused on co-innovating domian intensive technology solutions for automotive & transportaion, manufacturing and energy & utilities corporations.
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