RBI allows FIIs to invest under PIS in Northgate Technologies Ltd

The Reserve Bank of India on March 9, 2007 has notified that under Portfolio Investment Scheme (PIS), Foreign Institutional Investors (FIIs) can now purchase equity shares and convertible debentures of Northgate Technologies Ltd., through primary markets and stock exchanges in India. The purchases can be made upto 49 per cent of the paid up capital of the company, as it has passed resolutions to this effect at the Board of Directors' and the Annual General Meetings.

Source : Equity Bulls

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