Investment by FIIs/NRIs under PIS : M/s. Indiabulls Wholesale Services Ltd.

The Reserve Bank of India today notified that M/s. Indiabulls Wholesale Services Ltd. has passed resolutions at the board of directors’ level and at a special resolution by the shareholders, to enhance the limit for purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges, under the Portfolio Investment Scheme to 100 per cent of its paid up capital.

Foreign Institutional Investors can now purchase equity shares and convertible debentures of M/s. Indiabulls Wholesale Services Ltd. through primary market and stock exchanges under the Portfolio Investment Scheme, provided :

• FIIs through primary market and stock exchanges up to 100 per cent of the paid up capital of the company under Portfolio Investment Scheme.

• NRIs through primary market and stock exchanges up to 24 per cent of the paid up capital of the company under Portfolio Investment Scheme (PIS)

R. R. Sinha
Deputy General Manager

Press Release : 2010-2011/313