Foreign institutional investors will now be able to invest up to 35 per cent of Tech Mahindra’s paid-up capital.
"..Tech Mahindra has passed resolutions at the board of directors’ level and a special resolution by the shareholders, agreeing to enhancing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges up to 35 per cent of the paid-up capital of the company under Portfolio Investment Scheme,” the Reserve Bank of India said in a notification.
The portfolio investment scheme allows FIIs, non-resident Indians and persons of Indian origin to invest in the country’s primary and secondary capital markets. As on June 30, FIIs had over 26 per cent stake in the IT solutions company.