Gujarat NRE - Shareholders approve increase in FII holding limit

Gujarat NRE Coke Ltd has informed that the shareholders of the Company have passed a resolution through postal ballot, as per results declared on December 21, 2007, approving an increase in the holding limit of Foreign Institutional Investors (FII) in the shares of the Company beyond 24% of the paid up capital and upto the sectoral cap (74% of the paid up capital) applicable to the Company in compliance to the requirements of Master Circular on Foreign Investments in India issued by Reserve Bank of India dated July 02, 2007.

This has been necessitated by interest shown by the FIIs in the shares of the Company.