RBI raises FII purchase limit in Manappuram Finance to 49 pc

Tags: News
The Reserve Bank today increased the foreign investment limit in Manappuram Finance Ltd and said such investors can now buy up to 49 per cent stake in the company.

"The RBI...Notified that Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 49 per cent of the paid up capital of Manappuram Finance Limited under the Portfolio Investment Scheme (PIS)," RBI said in a notification.

The RBI decision comes after Manappuram Board passed a resolution to enhance the limit for purchase of its equity shares and convertible debentures by FIIs.

FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through Portfolio Investment Scheme (PIS).

The RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis.

To effectively monitor the limit, RBI has fixed cut-off points two percentage points lower than the actual ceiling.

As per the data available on BSE, FIIs held 41.86 per cent shares in Manappuram at the end of quarter ended December.

Shares of the company today closed 1.33 per cent lower at Rs 22.25 apiece on the BSE.


  • Modi must clearly say that preservation of cows is not about manslaughter

    Instead of in-fighting between hindus and muslims, India should fight poverty and maintain its values of diversity and tolerance, as advised by Presid


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Urs Schoettli

America lacks will to contain China

Recently both the Chinese leader Xi Jinping and Indian prime ...

Zehra Naqvi

Exercise gets creative juices flowing

Ever known that feeling of being sluggish and drowsy, of ...

Bubbles Sabharwal

You are what you believe yourself to be

The Gita says a man is what his shraddha is. ...


William D. Green

Chairman & CEO, Accenture