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India cbank says foreign investment in non-convertible shares to be part of corp debt limits

Source : REUTERS
Last Updated: Fri, Jun 06, 2014 13:50 hrs

MUMBAI, June 6 (Reuters) - India's central bank said on Friday it has decided to include investments in non-convertible shares, redeemable preference shares and debentures within the $51 billion limit reserved for foreign investment in corporate debt in India.

The Reserve Bank of India said all registered foreign institutional investors (FIIs), qualified foreign investors (QFIs), foreign portfolio investors (FPIs) and long-term investors such as sovereign wealth funds (SWFs) would be allowed to buy convertible shares as part of the corporate debt investment quota. (Reporting by Himank Sharma; Editing by Subhranshu Sahu)

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