Reserve Bank of India (RBI) has increased foreign investment limit in Nandan Denim from 24% to 49% of paid-up capital. The central bank has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of the company 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 to 49% for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.
Nandan Denim is an India-based denim manufacturer. The Company's products include shirting fabrics, engineered khakis and denim home.
