Reserve Bank of India (RBI) has allowed Tech Mahindra to raise the purchasing limit of equity shares and convertible debentures by foreign institutional investors (FIIs) in the company by up to 35% of the paid up capital. As of June quarter 2013, FIIs had holding of 26.79% in the company, as per data available on the BSE
The company passed resolutions at the Board of Directors' level and a special resolution by the shareholders, approving to enhance the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges up to 35% of the paid up capital of the company under Portfolio Investment Scheme.
Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra.
The company passed resolutions at the Board of Directors' level and a special resolution by the shareholders, approving to enhance the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges up to 35% of the paid up capital of the company under Portfolio Investment Scheme.
Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra.
No comments:
Post a Comment