RBI withdraws restriction of foreign holding in Supreme Industries

Chenani, Sep 24 (IANS) The Reserve Bank of India (RBI) on Thursday permitted foreign institutional investors (FII) and registered foreing portfolios investors (RFPI) to invest up to 30 percent in the equity of Supreme Industries Ltd under portfolio investment scheme (PIS).

According to RBI, as the FII/RFPI holding in Supreme Industries have gone below the threshold level, the restrictions have been withdrawn with immediate effect.

The RBI also cited the resolution passed by the Supreme Industries board and the special resolution by the shareholders for enhancing the limit of holding by FIIs/RFPIs.

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