Reserve Bank of India (RBI) has allowed Foreign Institutional Investors (FIIs) to buy shares in Dynamatic Technologies. RBI has notified that the foreign shareholding by Global Depository Receipts (GDRs)/American Depository Receipt (ADR)/ Foreign Direct Investment (FDI)/Non Resident Indian (NRI)/Persons of Indian Origin (PIO)/FIIs/Registered Foreign Portfolios Investors (RFPIs) in Dynamatic Technologies has gone below the revised threshold limit. Accordingly, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.
RBI has further notified that FIIs/RFPIs can invest up to 25 percent (revised from earlier limit of 26 per cent) and NRI/PIO can invest up to 1 per cent of the paid up capital of Dynamatic Technologies under the Portfolio Investment Scheme (PIS). The company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, for allocating the sub limits for the purchase of is equity shares and convertible debentures by FIIs/RFPIs.
Dynamatic Technologies is engaged in the activity of manufacturing hydraulic gear pumps. It is also engaged in manufacturing a variety of advanced hydraulic valves, hydraulic pumping units, custom-made hydraulic solutions, marine power packs, turnkey industrial instrumentation, and complicated aircraft ground-support systems.
Company Name | CMP |
---|---|
KSB | 748.70 |
Elgi Equipments | 586.75 |
Dynamatic Tech | 8273.60 |
Kirloskar Pneumatic | 1615.20 |
Shakti Pumps (I) | 963.15 |
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