January 22, 2013 / 4:24 AM / 5 years ago

Pantaloon shares up; cbank eases norms for foreign investment in co

MUMBAI, Jan 22 (Reuters) - Pantaloon Retail Ltd gained as much as 10.6 percent after India’s central bank eased restrictions on the purchase of shares in the company by foreign institutional investors and by non-resident Indians as well as persons of Indian origin.

The Reserve Bank of India took the measures after the aggregate shareholding held by these categories of investors fell below the threshold limit under the Foreign Direct Investment Scheme, meaning these investors can now buy into Pantaloon shares.

Pantaloon Retail India Ltd shares were up 9.2 percent as of 0410 GMT. (Reporting by Abhishek Vishnoi and Suvashree Dey Choudhury; Editing by Anand Basu)

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