Reserve Bank has allowed Non-Resident Indians (NRIs) to invest up to 24 per cent in TV Today Networks under the Portfolio Investment Scheme (PIS).
RBI today said the company "has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by NRIs."
Yesterday, the central bank had allowed foreign investors to invest up to 26 per cent in TV Today Network.
As per data available on BSE, foreign investors held 0.02 per cent in the company as on September 30.
FIIs, NRIs and PIO (Persons of Indian Origin) can invest in primary and secondary capital markets in India through PIS.
RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off points two percentage points lower than the actual ceiling.
TV Today Network Ltd shares closed at Rs 274.25 on BSE, up 7.8 per cent from previous close.
