Idea Cellular has said it would seek shareholders approval to increase FII investment limit in the company to 49 per cent from 24 per cent at present.
The
company has convened a extraordinary general meeting on December 26 on the issue.
The company's board of directors have already approved the proposal, Idea Cellular said in a filing to the BSE.
"...the Board of Directors of the company, have subject to approval of the shareholders, approved increase in the aggregate investment limit of foreign institutional investors (FIIs) from 24 per cent to 49 per cent of the paid-up equity capital of the company," the filing said.
"...an extraordinary general meeting of the members of the company has been convened on December 26, 2013, inter-alia, for obtaining approval of the members for the proposed increase in the aggregate investment limit of FIIs," it added.
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