On 27 July, India’s cabinet approved the increase of foreign shareholding limits from 5% to 15% in Indian stock exchanges, depositories, banking companies, insurance companies and commodity derivative exchanges. [ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”3″ ihc_mb_template=”2″ ]The cabinet also approved the proposal to allow foreign portfolio investors to acquire shares through an initial allotment in addition to the secondary market, in stock exchanges.
The approvals follow an announcement made by the finance minister while presenting the budget for the year 2016-17.
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The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.
