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What is the limit for purchase by NRIs under the PIS?

April 26, 2017limit NRIs PIs purchase

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What is the limit for purchase by NRIs under the PIS?

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Yes. An NRI can purchase up to a maximum of 5% of the aggregate paid up capital of the company (equity as well as preference capital) or the aggregate paid up value of each series of convertible debentures as the case may be. For the purpose of this ceiling, investment under the Portfolio Investment Scheme on repatriation as well as non-repatriation basis will be clubbed together.