Rejoice came for Zee Entertainment Ltd
(ZEEL) as Reserve Bank of India (RBI) on 2nd June has notified that
Foreign institutional investors can now invest up to 100 per cent of the
paid up capital in Zee Entertainment Enterprises Ltd. Earlier
investment limit for FIIs in the company was 49 per cent.
This decision has been taken after the company passed resolutions at its Board of Directors' level and shareholders agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs.
The central bank has given its seal of approval to ZEEL’s prayer for increasing FII in the company up to 100 per cent of its paid-up capital.
Market reaction to this news remained subdued as ZEEL closed the session 0.45 per cent softer at Rs 265.40 a share on the BSE. The counter exchanged 1.28 lakh (0.13 million) equity shares, which is half of its two-week average.
Source: http://cablequest.org/news/national-news/item/5067-cq-rbi-allows-up-to-100-fii-investment-limit-in-zeel.html
Source: http://cablequest.org/news/national-news/item/5067-cq-rbi-allows-up-to-100-fii-investment-limit-in-zeel.html
This decision has been taken after the company passed resolutions at its Board of Directors' level and shareholders agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs.
The central bank has given its seal of approval to ZEEL’s prayer for increasing FII in the company up to 100 per cent of its paid-up capital.
Market reaction to this news remained subdued as ZEEL closed the session 0.45 per cent softer at Rs 265.40 a share on the BSE. The counter exchanged 1.28 lakh (0.13 million) equity shares, which is half of its two-week average.
Source: http://cablequest.org/news/national-news/item/5067-cq-rbi-allows-up-to-100-fii-investment-limit-in-zeel.html
Source: http://cablequest.org/news/national-news/item/5067-cq-rbi-allows-up-to-100-fii-investment-limit-in-zeel.html
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