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.

EDITORIAL OF THE DAY

  • Enhanced allocations are needed for research to ‘Make in India’ for India

    Even as India flaunts its ambitious ‘Make in India’ initiative from February 13, it spurs several questions.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

The importance of Indonesia

A few weeks ago, the wo­rld was shocked by a ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Bubbles Sabharwal

Social media versus real life

It’s amazing how social media brings out the best side ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture