FIIs/RFPIs can now invest up to 60 per cent under PIS in M/s Yes Bank Limited

Date : Apr 29, 2016
FIIs/RFPIs can now invest up to 60 per cent under PIS in M/s Yes Bank Limited

The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from existing 49 per cent up to 60 per cent of the paid up capital of M/s Yes Bank Limited under the Portfolio Investment Scheme (PIS).

The Reserve Bank further notified that the total foreign investment from all sources i.e. Global Depository Receipts (GDR)/American Depository Receipts (ADR)/Foreign Direct Investment (FDI)/Foreign Institutional Investors (FII)/ Registered Foreign Portfolios Investors (RFPIs)/Non-Resident Indians (NRI)/Persons of Indian Origin (PIO) in the company shall not exceed 60 per cent.

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

The Reserve Bank has notified this under FEMA 1999.

Ajit Prasad
Assistant Adviser

Press Release : 2015-2016/2540

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