Reserve Bank of India (RBI) has advised that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of Bajaj Corp under the Portfolio Investment Scheme (PIS).
RBI stated that the company has already 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.
Bajaj Corp is engaged in the manufacturing of hair oils. The company markets its hair oil under the brand names Brahmi Amla, Amla Shikakai and Jasmine hair oil.
