 "V-Mart Retail rallies on RBI nod to hike FIIs limit")
V-Mart Retail has rallied 17% to Rs 574 on the National Stock Exchange (NSE) in early morning trade after the Reserve Bank of India (RBI) approved hike in investment limit by overseas investors.
“Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of V-Mart Retail Limited under the Portfolio Investment Scheme (PIS),” RBI said in a notification on Wednesday.
The Reserve Bank has further advised that the foreign shareholding by FIIs/RFPIs in V-Mart Retail have gone below the revised threshold limit. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.
As of September 30, 2015 FIIs held 23.09% stake in V-Mart Retail, the shareholding pattern data shows.
At 09:20 a.m. the stock was up 14% at Rs 5559 on the NSE. A combined 45,222 shares changed hands on the counter on the NSE and BSE.
“Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of V-Mart Retail Limited under the Portfolio Investment Scheme (PIS),” RBI said in a notification on Wednesday.
The Reserve Bank has further advised that the foreign shareholding by FIIs/RFPIs in V-Mart Retail have gone below the revised threshold limit. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.
As of September 30, 2015 FIIs held 23.09% stake in V-Mart Retail, the shareholding pattern data shows.
At 09:20 a.m. the stock was up 14% at Rs 5559 on the NSE. A combined 45,222 shares changed hands on the counter on the NSE and BSE.
