Mumbai (ABC Live): The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) and Non Resident Indians (NRIs) can now invest up to 100 per cent and 24 per cent respectively of the paid up capital of M/s Transwarranty Finance Limited under the Portfolio Investment Scheme (PIS).
The Reserve Bank further advised that the foreign shareholding by NRIs in M/s Transwarranty Finance Limited have gone below the revised threshold limit. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.
The Reserve Bank has stated that 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 by FIIs/RFPIs and NRIs. The purchases could be made through primary market and stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20/2000-RB dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.
The Reserve Bank has notified this under FEMA 1999.
Transwarranty Finance Limited (Transwarranty) is a Mumbai (India) Head Quartered, full service Financial & Capital Market Services Company, providing a wide range of services to over 1,000 Large, Small and Medium companies and thousands of retail clients all over India, since 1994.
Transwarranty is a Reserve Bank of India (RBI) registered Non Banking Finance Company (NBFC) listed on both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), engaged in advisory services like Investment Banking, Corporate Finance, Project Finance, Trade Finance and providing Business & Retail Loans against collateral security of immovable property, liquid assets like shares, other financial assets, gold jewelry etc.
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