RBI permits FIIs to buy shares in Bharat Forge

The Reserve Bank of India (RBI), under the portfolio investment scheme (PIS), has allowed the foreign institutional investors (FIIs) to purchase equity shares and debentures of Bharat Forge and Divi's Laboratories.

FIIs can purchase equity shares and debentures of Bharat Forge and Divi's Lab upto 40% and 30% of the paid-up capital of the companies respectively, through the primary markets and stock exchanges in India as these companies have passed resolutions to this effect at their board of directors' and general body meetings, RBI said in a release today.