RBI puts UPL in caution list; FII limit reaches trigger point

Tags: News
The Reserve Bank has put UPL Limited (formerly United Phosphorus Limited) under its caution list as the stipulated foreign investment limit in the company has been reached.

RBI said it is monitoring the foreign investment limit under the portfolio investment scheme (PIS) in the companies and has incorporated it in the caution list.

"The foreign shareholding by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in M/s UPL limited has reached the trigger limit.

"Hence, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India," RBI said in a notification.

As per the data available on the BSE, FIIs held 48.59 per cent shares in the company as of quarter ended June 30, 2014.

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E-mail ID will not be published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.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • Govt can’t clamp down on voices that ask uneasy questions

    It has hardly been a peaceful annum for Greenpeace’s India arm that has been in and out of trouble over the last one year.

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

Varun Dutt

<b>Risk Factor:</b> The blame game

In decision-making, the fundamental attribution error (FAE), also known as ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture