Ways2Capital Reviews : Sunteck Realty Board Approves Hiking FPI Limit From 24% to 49%; Stock Gains

Sunteck Realty Ltd, a Mumbai based realty company, said that its board has approved a proposal to hike foreign portfolio investors’ (FPI) limit from the current 24% to 49%.

In a statement to the stock exchanges post market hours yesterday, Sunteck realty said that the Board of directors of the company have approved a proposal for an increase in the investment limits by Registered Foreign Portfolio Investors (RFPI) including foreign institutional investors (FIIs) from the existing limit of 24% to 49% of the paid up capital of the company. This proposal is subject to approval of the shareholders and other statutory approvals, if any.

The increase will make available more shares for the RFPIs/FIIs to invest in the equity share capital of the company.Sunteck Realty Ltd is currently trading at Rs385.05 up by Rs3.6 or 0.94% from its previous closing of Rs381.45 on the BSE.
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About Bhoomi Desai