The Reserve Bank of India today notified that the aggregate share holdings by Foreign Institutional Investors/Non Resident Indians/Persons of Indian Origin under Portfolio Investment Scheme in M/s Pantaloon Retail (India) Limited has gone below the prescribed threshold limit stipulated under extant Foreign Direct Investment Policy. Hence the restrictions placed on the purchase of shares of the above Company on behalf of FIIs/NRIs/PIOs, are withdrawn with immediate effect.

Further, it is advised that in respect of the existing prior approval applications for purchase of shares received through custodian banks of FIIs, pending with Reserve Bank of India which could not be processed due to unavailability of limit/headroom, such investors are free to invest within the enhanced ceiling.

J.D.Desai
Assistant Manager

Press Release: 2012-2013/1228