Mumbai, May 14: Reserve Bank of India has notified foreign institutional investors can now purchase equity shares and convertible debentures of Crest Communications Ltd through stock exchanges. The FIIs can purchase upto 50 per cent and Non-Resident Indians or persons of Indian origin up to 24 per cent of its paid-up capital, an RBI release said here today.
The company has passed resolutions to this effect at its board of directors and general body meetings, the Central Bank added.
Bureau Report