RBI allows FIIs to buy equity of Zee News

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Posted: 2008-01-05 00:00:00+05:30 IST
Updated: Jan 05, 2008 at 2003 hrs IST

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Mumbai, January 5:: The Reserve Bank has allowed foreign investors to purchase shares of Zee News under the portfolio investment scheme.

"Foreign Institutional Investors/Non-Resident Indians/Persons of Indian Origin can now purchase equity shares of Zee News Limited under PIS (portfolio investment scheme) through secondary market," the central bank said in a press release yesterday.

RBI allowed the purchase of shares of Zee News by foreign investors as the holdings of FIIs in the company have gone below the prescribed threshold limit stipulated under the Foreign Direct Investment policy of the government.

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RBI allows FIIs to buy equity of Zee News

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