The Reserve Bank today allowed FIIs and NRIs to buy shares and convertible debentures

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of Indiabulls Infrastructure and Power Ltd.

"Foreign Institutional Investors (FIIs)/Non-Resident Indians/Persons of Indian Origin can now purchase under the portfolio investment scheme equity shares and convertible debentures of Indiabulls Infrastructure and Power Ltd...," the central bank said in a statement.

It said FIIs can purchase shares and convertible debentures of up to 100 per cent of the paid up capital of the company through primary market and stock exchanges.

With regard to NRIs/PIOs, it has permitted them to buy up to 24 per cent of the paid up capital of the company.

"Indiabulls Infrastructure and Power has passed resolutions at the Board of Directors' level and a special resolution by the shareholders, to enhance the limit for purchase of its equity shares and convertible debentures by these investors," the RBI said.