No further FII stake buys in Elpro Int; Niyogin Fintech under

The Reserve Bank has restricted foreign buyers to buy further stake in information technology device maker Elpro International as their shareholding crossed the prescribed limit.
Besides, it has put technology driven NBFC firm Niyogin Fintech under its watch as the prescribed foreign investment limit is nearing trigger level.
The foreign shareholding through Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) in Elpro International Ltd has crossed limit of 24 per cent of its paid-up capital, the RBI 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 central bank said.

In the case of Niyogin Fintech, it said the foreign shareholding in the company through FIIs/FPIs has reached a trigger limit and further purchases of company's share will be allowed only after obtaining prior approval from Reserve Bank.