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

  • Fall in sale of e-books globally is being attributed to screen fatigue

    Screen fatigue seems to have hit the human race big time, given that eyes are constantly exposed to various screens, from android and Apple I-phones,

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Disequilibrium: INDIA’S kill zones

In a curious twist after the 1999 Lok Sabha hustings, ...

Gautam Datt

<b>Newsmaker<b>: Caught in the middle

Historic opportunities can be easily squandered if they are not ...

Kuruvilla Pandikattu

The forgotten hero of science & religion

Young students of science will recognise Albert Einstein, Isaac Newton, ...