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RBI approves up to 26% foreign investment in TV Today Network

RBI approves up to 26% foreign investment in TV Today Network

Author | exchange4media News Service | Friday, Dec 04,2015 8:20 AM

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RBI approves up to 26% foreign investment in TV Today Network

The Reserve Bank of India (RBI) has allowed foreign investors to invest up to 26 per cent in TV Today Network.

"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 26 per cent of the paid-up capital of TV Today Network Ltd under the Portfolio Investment Scheme (PIS)," RBI had said in a notification earlier this week.

 

Shares of TV Today Network surged nearly 8 per cent yesterday on back of the news.

According to media reports, RBI said 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 and convertible debentures by FIIs/RFPIs.

FIIs, NRIs and PIOs (Persons of Indian Origin) can invest in primary and secondary capital markets in India through PIS.

Tags: TV Today | RBI

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