FIIs/FPIs can invest up to 49% in Gammon Infra Projects: RBI

The Reserve Bank on Wednesday said FIIs and foreign portfolio investors (FPI) can now invest up to 49 percent in Gammon Infrastructure Projects Ltd.

Mumbai: The Reserve Bank on Wednesday said FIIs and foreign portfolio investors (FPI) can now invest up to 49 percent in Gammon Infrastructure Projects Ltd.

"The purchases could be made through primary market and stock exchanges," the RBI said in a statement.

The board of Gammon has passed resolutions and the shareholders have passed a special resolution, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs)/RFPIs.

Shares of Gammon Infra Projects closed at Rs 11.15, down 2.53 percent over previous close on the BSE.

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