Foreign investors cannot buy further shares in non-banking finance firm Capital First as FIIs/FPIs have crossed the maximum permissible investment limit, RBI said today.
The foreign shareholding through foreign institutional investors (FIIs)/foreign portfolios investors (FPIs) in Capital First has crossed limit of 24 per cent of its paid-up capital, Reserve Bank (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," RBI said.
As on June 30, 2017 foreign portfolio investors held a total of 25.69 per cent in the company, according to data on BSE.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through portfolio investment scheme (PIS).
RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.
Stock of Capital First closed 0.67 per cent up at Rs 766.10 on BSE today.
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