The Reserve Bank of India has allowed foreign investors to raise their stake up to 74 per cent in DEN Networks. Foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest up to 74 per cent of the paid-up capital of DEN Networks under the portfolio investment scheme (PIS).
The decision came after the company passed resolutions at its board of directors’ level and a special resolution by shareholders, agreeing to enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.
FIIs, non-resident Indians and persons of Indian origin can invest in primary and secondary capital markets in India through PIS. RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off points two percentage points lower than the actual ceiling.
| Company Name | CMP |
|---|---|
| Zee Entertainment | 81.06 |
| Sun TV Network | 641.25 |
| GTPL Hathway | 69.83 |
| Network 18 Media Inv | 36.38 |
| TV Today Network | 114.27 |
| View more.. | |
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