MUMBAI, October 3: Net investments by foreign institutional investors rose to $ 175.7 million in September from $ 149.4 million in August, the Securities and Exchange Board of India said on Friday. The market regulator said cumulative foreign portfolio investments totalled $ 8.93 billion. Gross purchases in September were Rs 14.14 billion and sales Rs 7.83 bn, leaving a net investment of Rs 6.31 billion.GAIL roadshow on Oct 17MUMBAI: The roadshows of government-owned Gas Authority of India Ltd (GAIL) and Mahanagar Telephone Nigam Ltd (MTNL) global depository receipts (GDR) issue will start on October 17 and November 5, Industry Ministry official said on Friday.The size and the pricing of the issue would be decided after the studying the response from the international investors. While GAIL is planning to raise about $ 800 million from the issue, MTNL would be raising about $ 600-700 million. The response to both mega Euro-issues would reveal the appettite for Indian paper, which, according to investment bankers, is very high.FII ceiling in GACL hits 24%MUMBAI: The Reserve Bank of India today said that no further purchases of shares of Gujarat Ambuja Cements would be allowed through stock exchanges on behalf of foreign insitutional investors (FIIs) and overseas corporate bodies (OCBs) as it had reached the overall ceiling of 24 per cent.The RBI said in a statement that the company has already reached the ceiling of 24 per cent of paid up equity capital permitted to be held by all registered FIIs together with purchases made by NRIs and OCBs under the portfolio investment scheme.Gujarat Ambuja has sought the permission of its shareholders in next annual general meeting to be held on October 13 to hike the foreign equity from 24 per cent to 30 per cent as and when the necessary legislature changes are made.
