Reserve Bank of India (RBI) has increased foreign institutional investors' (FIIs) investment limit in Power Grid Corporation to 30% of its paid-up capital. RBI has notified that FIIs, through primary market and stock exchanges, can now purchase up to 30% of the paid up capital of Power Grid under the Portfolio Investment Scheme. The company has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing to enhance the limit for the purchase of its equity shares and convertible debentures by FIIs.
Power Grid is engaged in bulk power transmission and its responsibility include planning, coordination, supervision and control over inter-State transmission system and operation of National and Regional Power Grids.
Power Grid is engaged in bulk power transmission and its responsibility include planning, coordination, supervision and control over inter-State transmission system and operation of National and Regional Power Grids.
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