RBI freezes FII exposure in Repco, South Indian Bank

Our Bureau Mumbai | Updated on November 25, 2017 Published on July 25, 2014

The Reserve Bank of India on Friday said foreign investors cannot purchase shares of Repco Home Finance and South Indian Bank as their shareholding in these companies has crossed the threshold limit.

In the case of Repco Home Finance, the central bank said the shareholdings by foreign institutional investors/ registered foreign portfolios investors (RFPIs) under portfolio investment scheme in the company have crossed the limit of 24 per cent of its paid-up capital.

Therefore, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of FIIs/RFPIs.

In the case of South Indian Bank, the RBI said the foreign shareholding through FIIs/ RFPIs/ non-resident Indians/ persons of Indian origin (PIO), foreign direct investment (FDI), American depository receipts (ADRs) and global depository receipts (GDRs) in the bank has crossed the prescribed threshold limit under the extant FDI policy.

Hence, further purchases of equity shares of the bank would not be allowed through stock exchanges in India on behalf of FIIs/RFPIs/NRIs/PIOs and through FDI/ADRs/GDRs.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 25, 2014
This article is closed for comments.
Please Email the Editor