IDFC lowers FII shareholding limit to 51.50%
09/07/2014 15:38
Infrastructure lending firm IDFC Ltd has decreased the FIIs limit from 52.25 per cent shares to 51.50 per cent for foreign investors. "Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 51.50 per cent of the paid up capital of IDFC Limited under the Portfolio Investment Scheme ( PIS)," RBI said in a notification. The decision came after a passage of resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for decreasing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), RBI said. RBI further said that IDFC will remain included in the ban list for FIIs.
09/07/2014 15:38
Infrastructure lending firm IDFC Ltd has decreased the FIIs limit from 52.25 per cent shares to 51.50 per cent for foreign investors. "Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 51.50 per cent of the paid up capital of IDFC Limited under the Portfolio Investment Scheme ( PIS)," RBI said in a notification. The decision came after a passage of resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for decreasing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), RBI said. RBI further said that IDFC will remain included in the ban list for FIIs.
