The Reserve Bank of India today notified that Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 52.50 per cent of the paid up capital of M/s IDFC Limited under the Portfolio Investment Scheme (PIS). M/s IDFC Limited has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for decreasing the limit from 54 per cent to 52.50 per cent for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs). The Reserve Bank has notified this under FEMA 1999, regarding raising of aggregate ceiling for investments by FIIs in Indian companies under Portfolio Investment Scheme (PIS).
Further the Reserve Bank advise that the foreign share holding by FIIs in M/s IDFC Limited has crossed the overall limit of its paid-up capital. Therefore, please note that no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of FIIs.
Ajit Prasad
Assistant General Manager
Press Release : 2013-2014/1690 |
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