The Reserve Bank of India (RBI) on 5 January 2015 allowed the Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) to buy up to 49 percent of the paid-up capital of Bajaj Corp Ltd. The investments will be made under the Portfolio Investment Scheme (PIS).
Till September 2014 (BSE data), FIIs held 15.21 percent in the company.
Foreign shareholding hike decision was taken after passage of a resolution by the Board of Directors and special resolution by shareholders, in which they agreed to enhance the limit for purchase of its equity shares and convertible debentures by FIIs/RFPIs.
What: it was permitted by RBI
When: on 5 January 2015