Reserve Bank of India (RBI) has allowed foreign investors to raise their stake in Petronet LNG from 30% to 49% of its paid-up capital under the portfolio investment scheme (PIS).
RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.
Petronet LNG is engaged in sale of re-gasified liquefied natural gas (RLNG). The company is engaged in the import and re-gasification of liquefied natural gas (LNG). The company operates through the segment of natural gas business.