Pantaloon surges; norms for investment in firm eased

Last Updated: Tue, Jan 22, 2013 07:29 hrs

Pantaloon Retail Ltd gained as much as 13.8 percent after the RBI eased restrictions on the purchase of shares in the company by foreign institutional investors and by non-resident Indians as well as persons of Indian origin.

The Reserve Bank of India took the measures after the aggregate shareholding held by these categories of investors fell below the threshold limit under the Foreign Direct Investment Scheme, meaning these investors can now buy into Pantaloon shares.

Pantaloon Retail India Ltd shares were up 12.82 percent as of 12:44 a.m.

More from Sify: