TV Today Network increases foreign investment limit to 26%
In a filing to BSE, the company stated the Board has approved the increase in foreign investment limit by FPIs/ FIIs up to 26% and by NRIs up to 24%
TV Today Network has increased foreign investment limit in the company up to 26%.
In a filing to BSE the company stated, “Board has approved the increase in foreign investment limit by Foreign Portfolio Investors/Foreign Institutional Investors (FPI/ FII) up to 26% and by Non-Resident Indian (NRI) up to 24% of the paid-up capital of the Company, subject to the maximum permissible limit of 26% of the paid-up capital of the Company, under the Portfolio Investment Scheme pursuant to FEMA (Transfer or issue of Security by a person resident outside India) Regulations, 2000 ('FEMA Regulations') and approval of Foreign Investment Promotion Board (FIPB) in accordance with the revised uplinking guidelines for News and current affairs channel by the Ministry of Information & Broadcasting, Government of India and other applicable laws. …”
However it would be subject to shareholders' approval, said the company in the filing.
