Money & Banking

No further FII purchases allowed in Repco Home, South Indian Bank

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

The Reserve Bank of India (RBI) 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 shareholdings by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) under Portfolio Investment Scheme (PIS) in the company has crossed the limit of 24 per cent of its paid-up capital, the central bank said in its release.

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 (NRIs)/ Persons of Indian Origin (PIO)/ Foreign Direct Investment (FDI)/American Depository Receipts (ADRs)/Global Depository Receipts (GDRs) in the Bank has crossed the prescribed threshold limit as per 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.

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Published on July 25, 2014
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