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GTPL Hathway gets RBI nod to hike foreign investment limit to 49%

MUMBAI: Multi-system operator (MSO) GTPL Hathway has got the Reserve Bank of India’s (RBI) approval to increase foreign investment limit in the company.

The RBI has hiked foreign institutional investors (FII)/foreign protfolio investment (FPI) limit in GTPL to 49% from the earlier limit of 24%.

“Pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 on the captioned subject, we would like to inform that Reserve Bank of India (‘RBI’) vides its letter, dated September 07, 2017, intimated regarding increase in FIIs/FPIs Investment limit under Portfolio Investment Scheme from 24% to 49% in the Company,” the company informed the BSE.

As on 3 July, the promoter holding in the company was 73.85% while public shareholding stood at 26.15%.

Shares of GTPL Hathway closed 4.16% up at Rs 134 on BSE.