Financial Daily from THE HINDU group of publications
Tuesday, Jul 19, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jul 19, 2005 |
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Markets
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Foreign Institutional Investors Money & Banking - NBFCs RBI okays FII buying in Reliance Capital Our Bureau
MUMBAI: The RBI has issued a notification giving permission for the purchase of equity shares of Reliance Capital by foreign institutional investors under the portfolio investment scheme. The press release states that since FII holdings have gone below 22 per cent of Reliance Capital's paid-up capital, the equity shares can now be bought. The central bank has also notified that no further purchases of equity shares can be made by FIIs through the primary/secondary markets in Grasim Industries and Tata Tea without prior permission. The release states the companies have already reached the limit of 22 per cent of their paid-up capital.
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