Date:13/06/2007 URL: http://www.thehindubusinessline.com/2007/06/13/stories/2007061301500300.htm

Back FII limit hiked to 75% in Rolta

Our Bureau

Mumbai, June 12

Rolta India said it has received shareholder approval for enhancing the limit on FII investment in the paid-up equity capital of the company from 40 per cent to 75 per cent, and for raising equity linked funds of up to $250 million (Rs 100 crore). The FII investment would exclude non-resident Indian and overseas corporate body investments. The company also received approval to issue any equity linked foreign/ Indian securities such as foreign currency convertible bonds (FCCBs), American depository receipts (ADRs) global depository receipts (GDRs), or equity shares through qualified institutional placements (QIPs) for an amount not exceeding $250 million or equivalent Indian rupees.