The Reserve Bank of India (RBI) on Tuesday hiked the investment limit of foreign institutional investors (FIIs) and registered foreign portfolios investors (RFPIs) in the paid up capital of Info Edge (India) to 50% from earlier limit of 40%.

The RBI 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 FIIs/RFPIs.''

''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,'' it added.

Earlier, FIIs/RFPIs held 29.23% of the paid-up capital i.e 35.19 million shares. According to the new investment limit, FIIs/RFPIs can now hold a maximum of 60.21 million shares representing 50% of the paid-up capital.

Shares of the company gained Rs 22.15, or 2.97%, to trade at Rs 768.00. The total volume of shares traded was 10,729 at the BSE (10.56 a.m., Wednesday).