UltraTech Gets Board Nod To Raise Foreign Investment Limit To 30%


New Delhi: UltraTech Cement today said it has received approval from the board of directors to hike the Registered Foreign Portfolio Investor (RFPI) limit to up to 30 per cent, from existing 24 per cent.

“The Board of Directors of the company have approved a proposal for increase in investment limits by RFPIs from the existing 24 per cent of the paid-up equity share capital up to 30 per cent of the paid-up equity share capital of the company,” it said in a regulatory filing.

It further said: “The said increase in the limits is subject to the approval of the members at the ensuing Annual General Meeting of the company to be held in July, 2016, the date of which will be intimated separately.”

UltraTech Cement shares were trading at Rs 3,167.80, up by 2.16 per cent from the previous close on BSE.