IDFC soars 5% after RBI lifts restrictions on FII purchase

This, after shareholding of FII investors fell below prescribed limits

IDFC gained nearly 5% after the Reserve Bank of India (RBI) lifted restrictions on purchase of shares of the company by foreign investors.

The restrictions were lifted after the shareholding of foreign institutional investors (FII) and other category of foreign investors fell below the prescribed threshold limit as specified in the FDI policy.

The FII holding in the company stood at 52.19% at the end of the June 2013 quarter, down from 53.23% in the previous quarter.

Shares of IDFC were last trading at Rs 96.5, up 4.6% on BSE.