Tech Mahindra gets RBI’s approval to raise FIIs limit to 45%

14 Oct 2013

Reserve Bank of India (RBI) has raised the limit for foreign institutional investors (FIIs) to buy equity shares and convertible debentures in Tech Mahindra up to 45% through primary market and stock exchanges. Earlier the limit was 35% of the paid up capital of the company under Portfolio Investment Scheme. FIIs, NRIs and persons of India origin (PIOs) are allowed to invest in the primary and secondary capital markets in India through the PIS.

As on June 30, 2013, the promoters holding in the company stood at 36.46% while institutions and non-institutions held 47.72% and 15.81% stake in the company, respectively.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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