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Thursday, Jul 04, 2002

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RBI nod for 100% FII buy in Infosys

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MUMBAI: Foreign Institutional Investors (FIIs) can now purchase equity shares and convertible debentures of Infosys Technologies Ltd up to 100 per cent of its paid-up capital, according to a RBI release on Wednesday. Earlier the limit was 49 per cent.

However, the purchases of equity shares or debentures by a single FII/SEBI approved sub-account of a registered FII in the company, should, however, not exceed 10 per cent of the paid-up capital of the company, said the release.

The board of directors and the general body of Infosys Technologies had passed a resolution to increase FII limit from 49 per cent to 100 per cent recently.

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