Apollo Tyres' scrip gained 5.88 percent to Rs 208.60 on the BSE. At the NSE, it surged six percent to Rs 208.70.
"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs), through primary market and stock exchanges, can now purchase up to 45 percent of the paid-up capital of Apollo Tyres Limited under the Portfolio Investment Scheme (PIS)," RBI had said in a notification on 1st October.
The tyre manufacturer had passed resolutions at the board level and a special resolution agreeing to enhance the limit from 40 percent to 45 percent for purchase of its equity shares and convertible debentures by FIIs/RFPIs.
Foreign Institutional Investors (FIIs), Registered Foreign Portfolios Investors (RFPIs), NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs), through primary market and stock exchanges, can now purchase up to 45 percent of the paid-up capital of Apollo Tyres Limited under the Portfolio Investment Scheme (PIS)," RBI had said in a notification on 1st October.
The tyre manufacturer had passed resolutions at the board level and a special resolution agreeing to enhance the limit from 40 percent to 45 percent for purchase of its equity shares and convertible debentures by FIIs/RFPIs.
Foreign Institutional Investors (FIIs), Registered Foreign Portfolios Investors (RFPIs), NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
Source: Hindi Newspaper and City News Today
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