The Reserve Bank of India (RBI) has allowed foreign institutional investors (FIIs) and registered foreign portfolios investors (RFPIs) to invest up to 49% of the paid up capital of Tree House Education & Accessories under the Portfolio Investment Scheme (PIS).
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 and would be subject to Regulation 5(2) of FEMA Notification No.20/2000-RB dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.
Tree House is the largest self-operated pre-school chain in India, known for qualified and experienced teachers, standardized curriculum and quality education. Tree House has 505 preschool centres as on June 30, 2014 across 67 cities.
