FIIs and RFPIs can now invest up to 30% under PIS in Oberoi Realty

Q: As per the RBI, Foreign Institutional Investors/Registered Foreign Portfolios Investors can now invest up to 30% of the paid up capital of M/s Oberoi Realty Limited under the Portfolio Investment Scheme.

Krupa Vasavaraj, Bangalore

22nd July 2015

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After this announcement, the Shares of the company declined Rs 2.55, to settle at Rs 277.70. The total volume of shares traded was 73,078 at the BSE on Monday, dated 20th July,2015.

Guruprasad, Chennai

22nd July 2015

Comment

Right Guru,
Last month, Oberoi Realty's board had approved allotment of shares to Aranda Investments.

The company has reported 24% increase in its consolidated net profit at Rs 79.57 crore for the first quarter of 2015-16, compared to Rs 64.33 crore in the year-ago period. Total income of the company rose to Rs 215.78 crore during the first quarter of 2015-16 from Rs 181.85 crore in the corresponding period of the previous year.

Abhijit Thanki, Mumbai

22nd July 2015

That is why the land values in India remain rock-steady as developers backed by global and domestic private equity capital chase land parcels in a weak real estate market.

With global funds committing more capital to Indian real estate, many land purchases are likely to take place via partnerships between developers and fund houses.

Shrabani Deodhar, Pune

22nd July 2015

Even i read that news yesterday morning. The Reserve Bank has stated that the company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for increasing the limit for the purchase of its equity shares by FIIs/RFPIs.

Abhijit Thanki, Mumbai

22nd July 2015

Comment

Good morning Abhiit,
It will a lot to the Indian economy as well the real estate market of India. The purchases could be made through primary market and stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20/2000-RB dated May 03, 2000 and other terms and conditions stipulated by the Reserve Bank. The Reserve Bank has notified this under FEMA 1999.

Shrabani Deodhar, Pune

22nd July 2015