The Reserve Bank of India (RBI) has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of Eicher Motors under the Portfolio Investment Scheme (PIS).
The RBI 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 and convertible debentures by FIIs/RFPIs.
Shares of Eicher Motors gained Rs 258.95, or 1.63%, to trade at Rs 16,120.75. The total volume of shares traded was 1,368 at the BSE (9.40 a.m., Thursday).