Reserve Bank of India (RBI) has increased foreign institutional investors' (FIIs) investment limit in Somany Ceramics to 40% of its paid-up capital. RBI has notified that FIIs/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 40% of the paid up capital of Somany Ceramics under the Portfolio Investment Scheme (PIS).
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.
Somany Ceramics is a pioneering manufacturer, supplier and exporter of Floor Tiles, Wall Tiles, Sanitary Ware including urinals, basins, etc. Somany strives to bring its customers floor, wall, vitrified, ceramic, porcelain and innovative tiles that are the very latest in the world.
