IDFC lowers FII shareholding limit by 0.25 pc points
May 07 2014 , Mumbai
"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.