Reserve Bank of India (RBI) has allowed Edelweiss Financial Services to raise its foreign investment limit up to 28% of paid-up capital. The company has already passed resolutions at the 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 Foreign Institutional Investor (FIIs), through primary market and stock exchanges up to 28% of the paid up capital of the company under Portfolio Investment Scheme.
The foreign share holding by FIIs, in Edelweiss Financial Services have gone below the revised threshold limit stipulated under the extant Foreign Direct Investment (FDI) Policy. Hence, the restrictions placed on the purchase of shares of the company are withdrawn with immediate effect.
Edelweiss Financial Services (EFSL) is India’s leading diversified financial services company. It is engaged in the business of investment banking, brokerage services, asset management and financing.
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