Any NRI or a PIO can invest maximum of 5% of the aggregate paid up capital of the company (equity as well as preference capital) or the aggregate paid up value of each series of convertible debentures as the case may be.  Investment under the Portfolio Investment Scheme on repatriation as well as non-repatriation basis will be clubbed together for this purpose.

There is an overall ceiling of 10% of paid-up equity share capital of the company/paid-up value of each series of convertible debentures for purchase by all NRIs/OCBs put together. The overall ceiling can be raised to 24% if the company concerned passes a special resolution in its general body meeting.

Shares/convertible debentures acquired through IPO/Private Placement are excluded for the purpose of above limits.

The portfolio investment scheme helps track the above limits