India: Foreign investors can acquire up to 30 pct in Petronet LNG
The Reserve Bank of India informed that foreign institutional investors can buy up to 30% of Petronet LNG’s stock under the portfolio investment scheme.
The Reserve Bank said in a statement, that the foreign shareholding by Foreign Institutional Investors/Registered Foreign Portfolios Investors in Petronet LNG have gone below the revised threshold limit.
“The restrictions placed on the purchase of shares are withdrawn with immediate effect,” RBI said.
The Reserve Bank said that the company has passed resolutions agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.
The purchases, which can be made through primary market and stock exchanges, will be a subject to regulations and conditions stipulated by the Reserve Bank.
Image: Petronet LNG