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The Reserve Bank of India has given its approval to foreign investors to raise their stake up to 74 percent in DEN Networks.
RBI said in a notification that “Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 74 percent of the paid up capital of DEN Networks Limited under the Portfolio Investment Scheme (PIS).”
According to RBI, the decision has come after the company passed resolutions at its Board of Directors level and a special resolution by the shareholders agreeing to enhance the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.
