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The Reserve Bank today allowed Zicom Electronic Security Systems to raise the limit of investment by NRIs and persons of Indian origins to up to 24 per cent of the company’s paid up capital.
“Non Resident Indians (NRIs)/Persons of Indian Origin (PIOs) can now invest up to 24 per cent of the paid up capital of Zicom Electronic Security Systems Ltd under the Portfolio Investment Scheme (PIS),” RBI said in a notification.
The purchases could be made through primary market and stock exchanges.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
The RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off points two percentage points lower than the actual ceiling.
Zicom Electronic shares closed at Rs 161.90 per share on the BSE today, down 0.61 per cent from the previous close.
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