RBI hikes foreign investment limit in GTPL Hathway, CCL Pdts

Mumbai: The Reserve Bank has allowed foreign investors to up their stakes in cable TV distribution company GTPL Hathway and instant coffee manufacturer CCL Products to up to 49 per cent and 40 per cent, respectively.

Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in GTPL Hathway Ltd has increased from 24 per cent to 49 per cent of its paid up capital, Reserve Bank said.

Besides, RBI said foreign investment limit for investment by FIIs/FPIs in CCL Products (India) Ltd has increased from 24 per cent to 40 per cent.

CCL Products has passed resolutions to hike such limit and the aggregate shareholding by foreign investors has gone below the prescribed limit, it said.

"Hence, the restrictions placed on the purchase of shares of the company (CCL Products) by FIIs/FPIs...Are withdrawn with immediate effect," RBI said.

FIIs, NRIs and PIOs (Persons of Indian Origin) can invest in primary and secondary capital markets in India through PIS.

RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points that are two percentage points lower than the actual ceiling.

Shares of GTPL Hathway closed 4.16 per cent up at Rs 134 and CCL Products rose by 6.32 per cent to Rs 302.65 on BSE on Friday.