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FIIs restricted from buying shares in Capital First

The RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis

Press Trust of India  |  Mumbai 

Reserve Bank of India
Reserve Bank of India

Foreign investors cannot buy further shares in non-banking finance company as foreign institutional investors/foreign portfolio investors (FIIs/FPIs) have crossed the maximum permissible investment limit, the Reserve Bank of India (RBI) has said.

Foreign shareholding through FIIs/FPIs in has crossed the limit of 24 per cent of its paid-up capital, the said in a notification.

“Therefore, no further purchase of shares of this company would be allowed through stock exchanges in India on behalf of FIIs/FPIs,” the said.

As on June 30, 2017, foreign portfolio investors held a total of 25.69 per cent in the company, according to data on the BSE.

FIIs, NRIs (non-resident Indians) and PIOs (persons of Indian origins) can invest in primary and secondary capital in India through portfolio investment scheme (PIS).

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

Stock of closed 0.67 per cent up at Rs 766.10 on the BSE on Wednesday.

First Published: Wed, July 26 2017. 23:37 IST
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