Comments
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.
Comments
COMMENT NOW
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.