HSIL to seek shareholders' nod for FII cap hike

The Board of Directors of HSIL has approved the postal ballot notice for seeking consent of shareholders to increase foreign institutional investors’ limit to 40 per cent and also increase the limit of non-resident Indians’ shareholding in the company to 5 per cent of the paid-up equity share capital. “The voting shall be reckoned in proportion to the shares held by a member in the paid-up equity share capital of the company as on January 23, 2015,” the company informed the exchanges. Currently, FIIs hold 11.38 per cent stake in HSIL, which closed at ₹415.4 on the BSE, a gain of 0.83 per cent.