Cable television services firm Den Networks has approved increasing limit of foreign investment in the company from existing 49 per cent to 74 per cent.
The board of the company today approved the increasing of limit subject to the approval from its shareholders and regulatory bodies as Foreign Investment Promotion Board of India, Den Networks informed the BSE.
" The Board of Directors of the Company has approved... from existing 49 per cent to 74 per cent of the issued and fully paid-up share capital of the company, subject to the approval of the shareholders, FIPB and all other applicable acts, laws, rules, regulations, circulars, directions, notifications," the company said in the notice.
It further said that the company would take approval from its shareholders for increasing the limit through postal ballot.
