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2014-11-28

JustDial to raise foreign shareholding to 75%: RBI

foreign institutional investors held 26.64 per cent shares in the company as of September 30, 2014.

The Reserve Bank of India has given the flexibility to JustDial to push the foreign shareholding limit to 75 per cent, according to a PTI report.

It has allowed foreign institutional investors and registered foreign portfolios investors to invest up to 75 per cent of the paid-up capital of JustDial Limited under portfolio investment scheme (PIS).

The PTI report further stated that the decision to raise such investment limit came after the company passed resolutions at its board of directors' level and a special resolution by shareholders, agreeing to enhance the limit of its equity shares and convertible debentures by FIIs.

FIIs held 26.64 per cent shares in the company as of September 30, 2014. FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.

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