Dash
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In the case of Tata Advanced Materials, similarly, a small FII stake proved to be the bottleneck. And in the case of Punj Lloyd, though it met the FDI criterion — at 26% before the NDA raised it to 49% — it could not make the cut as the largest Indian shareholder held just a 40% stake.
There seems to be lot of inconsistency there, can anybody shade some light? specially on how these companies could make a move to level the gap???