 "RBI asks FIIs to bring down stake in IIFL Holdings to 80%")
"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from the existing 100% up to 80% of the paid up capital of M/s IIFL Holdings Limited (Formerly India Infoline Limited) under the Portfolio Investment Scheme (PIS)", RBI said.
RBI said the company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for decreasing the limit for the purchase of its equity shares by FIIs/RFPIs.
The purchases could be made through primary market and stock exchanges, it added.
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