RBI allows FIIs to buy upto 49 % paid-up capital in Bajaj Corp

Highlights:

  • The Apex Financial Institution of India, the Reserve Bank has allowed ING Vysya Bank & Kotak Mahindra Bank going to merge on April 1, 2015 to buy up to 49 % of the paid-up capital of Bajaj Corp Ltd.
  • As of quarter ended September 2014, FIIs held 15.21 %  in the company, according to BSE data.
  • FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
  • The RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis.
  • It has fixed the cut-off points two percentage points lower than the actual ceiling.