Future Retail said it has received approval from the RBI to increase the limit of its Registered Foreign Portfolio Investors to 49 percent of its paid up capital, PTI reported.
“We would like to inform you that Reserve Bank of India has issued a press release dated March 19, 2018 relating to increase in the limits for investment in the equity share capital of the Company by Registered Foreign Portfolio Investors (RPFls) including Foreign Institutional Investors (FIIs) up to 49 percent of the paid-up capital of the Company,” the company said in a regulatory filing.
Earlier, the limit was 24 percent.
