RBI lifts restriction on foreign investment in Indraprastha Gas

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The Reserve Bank (RBI) said that it has lifted restrictions on foreign investment in Indraprastha Gas Limited as the earlier limit has been enhanced by the company. The RBI said the company has passed necessary resolutions of its Board of Directors and General Body under Foreign Exchange Management Act (FEMA) to raise the foreign investment limit to 30 per cent, from 24 per cent earlier. 

"The foreign investment limit for investment by Foreign Institutional Investors (FIIs)/ Foreign Portfolios Investors (FPIs) in Indraprastha Gas has increased from 24 per cent to 30 per cent of its paid-up capital," RBI said. Owing to the increase in investment limit, it is notified that the aggregate shareholding by FIIs/FPIs in Indraprastha Gas has gone below the prescribed FIIs/FPIs investment limit for the company, it added.

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