Repco Home Fin gains on hike in foreign shareholding limit

Repco Home finance has gained around 4% in early trading on the BSE on the back of Reserve Bank of India permission to the housing finance company to raise  its foreign shareholding to 49%.

The foreign shareholding limit by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) had gone below the threshold limit in the company. Since the threshold limit fell, the RBI removed the restrictions placed on the company on the purchase of shares by foreign investors.

"FIIs/RFPIs can now invest upto 49% of the paid up capital of Repco Home Finance Limited under the Portfolio Investment Scheme," RBI said in a notification.

The stock opened at Rs 487 and hit a high of Rs 495 on BSE  while around 14,000 shares have changed hands on BSE and NSE combined, so far.