The Reserve Bank of India (RBI) has allowed foreign institutional investors (FIIs) to invest up to 100% of the paid up capital in Crompton Greaves. The decision follows passage of resolutions at company’s 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/ Registered Foreign Portfolios Investors (RFPIs) RFPIs. FIIs held 15.93% shares in the company as of quarter ended September 30, 2014.
Crompton Greaves is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.
