RBI restricts foreign investors from purchasing Kotak
Mahindra Bank shares
18/06/2014 18:06
The Reserve Bank of India on Wednesday imposed restrictions on fresh buying of Kotak Mahindra Bank’s share by overseas investors including foreign institutional investors (FIIs), Non Resident Indian (NRI) and Persons of Indian Origin (PIO) as the foreign holdings in the bank has touched the trigger limit.
“The foreign shareholding in Kotak Mahindra Bank Ltd. by FIIs under Portfolio Investment Scheme (PIS) has reached the trigger limit,” the RBI in a press release.
Hence, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India, it added.
Ahead of development, shares of bank closed at Rs 960.00 a piece, up 2.19 per cent, from previous close on Bombay Stock Exchange.
18/06/2014 18:06
The Reserve Bank of India on Wednesday imposed restrictions on fresh buying of Kotak Mahindra Bank’s share by overseas investors including foreign institutional investors (FIIs), Non Resident Indian (NRI) and Persons of Indian Origin (PIO) as the foreign holdings in the bank has touched the trigger limit.
“The foreign shareholding in Kotak Mahindra Bank Ltd. by FIIs under Portfolio Investment Scheme (PIS) has reached the trigger limit,” the RBI in a press release.
Hence, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India, it added.
Ahead of development, shares of bank closed at Rs 960.00 a piece, up 2.19 per cent, from previous close on Bombay Stock Exchange.
