Info Edge Gets RBI Nod to Up Foreign Holding Cap to 50%

Info Edge Gets RBI Nod to Up Foreign Holding Cap to 50%
Mumbai: Info Edge, the promoter of naukri.com, has got approval from the Reserve Bank to raise the limit of foreign shareholding to 50 per cent of its paid-up capital.
 

"FIIs or registered FPIs (RFPIs) can now invest up to 50 per cent (revised from the earlier limit of 40 per cent) of the paid-up capital of Info Edge (India) under the Portfolio Investment Scheme (PIS)," RBI said in a notification.
 

"... the company has passed resolutions at its Board of Directors level and a special resolution by shareholders agreeing to enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs," it said. The purchases could be made through primary market and stock exchanges, it added.
 

As per BSE data, FIIs held 29.23 per cent in the company as of the June quarter of 2015.
 

FIIs, NRIs and PIOs (persons of Indian origin) can invest in primary and secondary capital markets in India through PIS.
 

RBI monitors the ceilings on FII, NRI, PIO investments in Indian companies on a daily basis.
 

To effectively monitor the limit, RBI has fixed cut-off points two percentage points lower than the actual ceiling.
 

The Info Edge stock closed at Rs 745.85 on BSE, down 0.37 per cent.