Infrastructure financing company IDFC Ltd has further pared its foreign investment limit to 48 per cent to meet requirements for the banking operations after having granted a licence by RBI earlier this year.
IDFC has agreed to decrease the limit for purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs), to 48 per cent of the paid up capital, RBI said in a notification.
Earlier limit for such investments in IDFC was 50 per cent.
“Further, the Reserve Bank advised that IDFC Limited will remain included in the bank list for FIIs/RFPIs,” it said.
The company has been gradually paring the foreign shareholding limit to meet the pre-requisite of bringing it down to run banking services.
Shares of the company today closed 2.38 per cent down at Rs 137.25 per scrip on the BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.