News: DS Kulkarni okays 49% FII investment

(BL 09/05/2006) Mumbai - DS Kulkarni Developers Ltd on Tuesday said that the investment limit for foreign institutional investors in the company has been approved up to 49 per cent in the equity share capital.

The shareholders, at the EGM held on April 10, approved the 49 per cent investment by FII, either by direct investment or by acquiring from the market under portfolio investment scheme, subject to necessary approvals and provisions, DS Kulkarni informed the Bombay Stock Exchange.

The shares of the company were trading at Rs 376.10, down 2.04 per cent on the NSE.