FIIs/RFPIs can now invest up to 49 per cent in PC Jeweller: RBI

MUMBAI: Foreign Institutional Investors can now invest up to 49 per cent of the paid-up capital of PC Jeweller, the Reserve Bank said today.

The RBI notified (under FEMA 1999) that FIIs/Registered Foreign Portfolio Investors ( RFPIs) can now invest up to 49 per cent in PC Jeweller Ltd under the Portfolio Investment Scheme (PIS).

"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," the central bank said in a statement.

The purchases could be made through primary market and stock exchanges.

The RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis.

PC Jeweller shares today closed 6.05 per cent up at Rs 417.75 apiece on BSE.