PUNJ LLOYD LTD. - FIPB Approval for manufacture of defence items

Punj Lloyd Ltd has informed BSE that Foreign Investment Promotion Board (FIPB), Department of Economic Affairs, Ministry of Finance, Government of India vide its Letter dated December 15, 2014 have approved the proposal of the Company for manufacturing of equipment systems and associated assemblies for the defence sector.<BR><BR>As per clause 4 of the above letter, Foreign equity participation in the Company including FDI & Investment by FII/FPI/FVCI/QFl/NRI through portfolio investment have been capped at 32.99% of the paid-up equity capital of the Company.