Omaxe to allow 100% FII stake
The Economic Times, June 10, 2009, Page 5
NEW DELHI: Realty developer Omaxe on Tuesday said its board has approved to increase the limit of holding by foreign institutional investors (FIIs) to 100%. The board has approved to increase the limits of holding by the registered FIIs to up to 100%, Omaxe said in a filing to the Bombay Stock Exchange. At present, the limit of overseas investors holding in the company is 24%. The rise in the limit of FII holding was taken on Tuesday, but the company had inadvertently mentioned this limit as 40%. “The increase in the limits of 24% for holding by the registered FIIs was inadvertently mentioned as 40% instead of 100%,” Omaxe said in a statement.
The Economic Times, June 10, 2009, Page 5
NEW DELHI: Realty developer Omaxe on Tuesday said its board has approved to increase the limit of holding by foreign institutional investors (FIIs) to 100%. The board has approved to increase the limits of holding by the registered FIIs to up to 100%, Omaxe said in a filing to the Bombay Stock Exchange. At present, the limit of overseas investors holding in the company is 24%. The rise in the limit of FII holding was taken on Tuesday, but the company had inadvertently mentioned this limit as 40%. “The increase in the limits of 24% for holding by the registered FIIs was inadvertently mentioned as 40% instead of 100%,” Omaxe said in a statement.
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