Mid-day Multimedia Ltd said on Saturday it has raised the investment limit of foreign institutional investors and non-resident Indians in the company to 26 per cent.
The shareholders at the EGM, have approved the increase in investment limit of FIIs and NRIs to up to 26 per cent of the paid up capital of the company, Mid-day informed the Bombay Stock Exchange.
The company has also approved the issue and allotment of 21.90 lakh equity shares to T Rowe Price International Inc, on preferential basis, it said.
The company will allot the equity shares to T Rowe Price International Inc under two funds---T Rowe Price International Discovery Fund -7,30,000 shares and T Rowe Price New Asia Fund -14,60,000 shares, it added.
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