Top Story

e4m_logo.png

Home >> Media – Print >> Article

Mid-Day claims to secure RBI permission to offer shares to FIIs

10-February-2001
Font Size   16
Share
Mid-Day claims to secure RBI permission to offer shares to FIIs

The Mid-day Group’s claim that it has secured the permission of the Reserve Bank of India to offer shares in the company to Foreign Institutional Investors (FIIs) when it enters the capital market with a public issue has raised eyebrows in the Union ministries of finance and information & broadcasting.

Both the ministries said that they were unaware of any RBI decision to allow the FIIs to enter the print media and that they would look into the matter instantly. The reason why the Mid-Day group’s claim has provoked such responses from officials is that successive governments at the Centre have clearly stated that they oppose the entry of foreigners in the print media.

Media observers believe that allowing FIIs to acquire equity is equivalent to a back door entry for foreigners into the print media. They fear that the distinction that is sought to be made between FDI (by overseas corporate groups) and foreign portfolio investment (by FIIs) is little more than an attempt to blur the real issue. The government has unequivocally stated its stand against FDI in the print media—a stand which finds favour across the political spectrum.

Tags

Innovation and connecting with customers in all ways possible is their mantra for successful marketing communication

Bixler revealed that the likes of The Ministry of Tourism, The Art of Living and The Indian Debating Union have partnered with the festival that will be showcasing the culture and diversity of India

In conversation with exchange4media, Vighnesh Shahane, CEO, IDBI Federal Life Insurance, spoke about his vision for this new marketing initiative, how the brand’s marketing efforts through sports have helped them and his business goals for 2018

This agency was born after national brands reportedly struggled to connect with the south Indian audiences

The agency has been awarded the reins of the account in the aftermath of a competitive multi-agency pitch.

In an effort to make Indian roads safer for women scooter riders, leading tyre manufacturer CEAT has introduced the CEAT Safety Grip - a perfect combination of innovation and functionality

Partners with Mumbai Juniorthon as ‘Safety Travel Partner’