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RBI allows foreign investors buy up to 74% stake in Fortis Healthcare

RBI had put Fortis Healthcare under the ban list last month with respect to foreign investment

Press Trust of India  |  Mumbai 

RBI allows foreign investors buy up to 74% stake in Fortis Healthcare

Reserve Bank has allowed to buy more shares in Ltd as the company's board has hiked their investment limit to 74 per cent.

Foreign Institutional Investors (FIIs)/ Foreign Portfolio Investors (FPIs) investment limit under (PIS) in has increased from 24 per cent to 74 per cent of its paid up capital, RBI said in a notification.


has passed resolutions at its board of directors level and general body as required under FEMA 1999 and under PIS in Indian

"Owing to the increase in FIIs/investment limit, it is notified that the aggregate shareholding by FIIs/in has gone below the prescribed FIIs/investment limit for the company.

"Hence, the restrictions placed on the purchase of shares by FIIs/of the above company are withdrawn with immediate effect," it said.

RBI had put under the ban list last month with respect to under PIS as the said limit was 24 per cent at that time.

FIIs, NRIs and PIOs (Persons of Indian Origin) can invest in primary and secondary capital markets in India through PIS.

RBI monitors ceilings on FII/NRI/PIO investments in Indian on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.

Stock of closed 2.25 per cent down at Rs 158.35 on BSE today.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, July 07 2017. 21:41 IST
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