Foreign investors can buy up to 49% stake in Inox Leisure

Reserve Bank of India (RBI) has increased foreign institutional investors' (FIIs) investment limit in Inox Leisure to 49% of its paid-up capital. The central bank has notified that FIIs/Registered Foreign Portfolios Investors (RFPIs) from default can now invest from existing 24% up to 49% of the paid up capital of Inox Leisure under the Portfolio Investment Scheme (PIS). The company has passed resolution 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 by FIIs/RFPIs.

INOX Leisure is one of the fastest growing multiplex chains in the country, building and managing multiplex cinemas throughout India.