RBI allows Investment by FIIs under PIS in Balrampur Chini Mills Ltd

The Reserve Bank of India has on March 22, 2007 notified that under Portfolio Investment Scheme (PIS), Foreign Institutional Investors (FIIs) can now purchase equity shares and convertible debentures of Balrampur Chini Mills Ltd., through primary markets and stock exchanges in India. The purchases can be made upto 60 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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