Reserve Bank of India (RBI) has allowed foreign investors to raise their stake in Edelweiss Financial Services from 40% to 49% of its paid-up capital under the portfolio investment scheme (PIS).
RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.
Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments - agency business and holding company activities.