The Reserve Bank of India (RBI) has increased the investment limit for foreign portfolio investors (FPIs), in TeamLease Services to 75% on Tuesday.

At present, FPIs hold 24.64% stake in TeamLease Services. RBI in a press release stated, “The Reserve Bank of India has notified that the Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in TeamLease Services has increased from 24% to 75% of its paid up capital.”

The company has passed necessary resolutions of its board of directors and general body as required under the FEMA, 1999 and the regulations framed there under. Further, this increase is subject to regulation 5(2) of Foreign Exchange Management Regulations,2017 dated November 07,2017, as amended from time to time, and the onus of compliance with the limits prescribed for the company is on the company.

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