India Infoline to hike FII limits up to 100 pc

MUMBAI: Domestic brokerage firm India Infoline on said it will increase the foreign institutional investment limit up to 100 per cent in the company.

The shareholders at the Extra Ordinary General Meeting held recently authorised the board to raise the FII limit to 100 per cent of the paid-up capital of the company, India Infoline said in a communique to the Bombay Stock Exchange.

The company would also issue 15 lakh equity warrants convertible into equity shares on preferential basis to the investors.

The shareholders also approved the employee stock option scheme for this year, extending the same to employees of subsidiary companies, the firm said.

The EGM also gave consent for increasing the borrowing powers of the company.

Shares of the company were last trading 1.63 per cent up at Rs 877.90 at the BSE.