Axis Bank has received permission from Reserve Bank to raise foreign shareholding from the existing 62% up to 49%. The Portfolio Investment Scheme (PIS) will now allow foreign institutional investors and registered foreign portfolio investors to invest 49% of the paid-up capital of Axis Bank. Following resolutions made by board members and shareholders, the new agreements will also work to enhance the limit for purchase of its shares.
Axis Bank has received permission from Reserve Bank to raise foreign shareholding from the existing 49% up to 62%. The Portfolio Investment Scheme (PIS) will now allow foreign institutional investors and registered foreign portfolio investors to invest 62% of the paid-up capital of Axis Bank. Following resolutions made by board members and shareholders, the new agreements will also work to enhance the limit for purchase of its shares.