IDFC lowers FII shareholding limit by 0.25 pc points

Tags: News
Infrastructure lending firm IDFC Ltd has decreased the FIIs limit by 0.25 percentage points, making 52.25 per cent shares available for foreign investors.

"Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 52.25 per cent of the paid up capital of IDFC Limited under the Portfolio Investment Scheme (PIS)," RBI said in a notification.

FIIs held 52.61 per cent shares in the company as of quarter ended March 31, 2014, according to data on the BSE.

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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India must follow China on its path to the future

    There are many theories, real and imagined, doing the rounds in the national and international media about Barack Obama’s overtures to ‘rebalance

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Will the adventurous UGC succeed?

The impact of the Modi government on the education sector ...

Zehra Naqvi

The urge to tell stories

One wants to tell a story, like Scheherzade, in order ...

Dharmendra Khandal

Don’t interfere with nature

Just before we celebrated the news of tiger numbers swelling, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture