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.

EDITORIAL OF THE DAY

  • HDFC Bank has triggered market competition by lowering base rate

    Even nine months after the Reserve Bank of India (RBI) changed its monetary stance and started reducing key policy rates, both public and private sect

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Roopen Roy

Startups to bring change for good

It is a widely held belief that our new generation ...

Rajgopal Nidamboor

The quest for the greater self

All of us have our own outlook, or view, of ...

Dharmendra Khandal

Elephants are killed for those ivory bangles

Wildlife lovers always curse China for making products out of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture