Is there any ceiling on the Investments under the Portfolio Investment Scheme?
NRIs are allowed to invest in shares of listed Indian companies in recognized Stock Exchanges under the Portfolio Investment Scheme (PIS).
- NRIs can invest through designated ADs, on repatriation and non-repatriation basis under the PIS route up to 5% of the paid-up capital/paid-up value of each series of debentures of listed Indian companies.
- The aggregate paid-up value of shares/convertible debentures purchased by all NRIs cannot exceed 10% of the paid-up capital of the company/paid-up value of each series of debentures of the company.
- The aggregate ceiling of 10% can be raised to 24%, if the General Body of the Indian company passes a special resolution to that effect.