Foreign investors need RBI nod to buy more equity in TataChem

Foreign shareholding in Tata Chemicals has hit the trigger limit following which the Reserve Bank has said that further purchase of equity in the company by overseas investors will require prior approval.
The foreign shareholding by Foreign Institutional Investors or Registered Foreign Portfolios Investors in Tata Chemicals has reached the trigger limit, the apex bank said in a notification.
"Hence further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India", it said.
As of December 31, promoter held 30.98 per cent stake in the company, while 69.02 per cent was held by public, as per data available on BSE.

The data about foreign shareholding was not given separately.
Tata Chemicals stock today closed at Rs 325.40 on BSE, up 2.75 per cent from the previous level.