Foreign investment limit on Tech Mahindra raised to 45 per cent

The Reserve Bank of India has lifted the limit for foreign institutional investors (FIIs) to purchase shares in Tech Mahindra up to 45 per cent of the paid up capital of the company.

"The Reserve Bank of India today notified that Tech Mahindra has passed resolutions...,agreeing of enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs, through primary market and stock exchanges up to 45 per cent," the apex bank said in a notification on Friday.

This limit has been revised from earlier limit of 35 per cent of the paid up capital of the company under the portfolio investment scheme.

FIIs, NRIs and persons of India origin (PIOs) are allowed to invest in the primary and secondary capital markets in India through the PIS.

Under the scheme, FIIs/NRIs can acquire shares/debentures of Indian companies through the stock exchanges in India.