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Mixed response to allowing foreign entities to invest in power exchanges

The Cabinet nod to allow foreign institutional investors or foreign portfolio investors to invest in power exchanges through the primary market has received mixed reactions from industry players. Earlier, the policy provided for 49 per cent FDI under automatic route in power exchanges registered under the Central Electricity Regulatory Commission (Power Market) Regulations, 2010. However, FII/FPI purchases were restricted to the secondary market only. It has now been decided to do away with this provision, thereby allowing FIIs/FPIs to invest in power exchanges through the primary market as well, an official statement added. Manohar Govindrao Raoot, CEO, Power Exchange India (PXIL), told BusinessLine: “The government’s decision to allow FPI.....

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