1. RBI asks FIIs to bring down stake in India Infoline Limited Holdings to 80%

RBI asks FIIs to bring down stake in India Infoline Limited Holdings to 80%

Reserve Bank today said foreign investors will have to bring down their stake in IIFL Holdings to 80 per cent from 100 per cent at present.

By: | Mumbai | Published: June 11, 2016 12:37 AM
RBI said the company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for decreasing the limit for the purchase of its equity shares by FIIs/RFPIs (Reuters) RBI said the company has passed resolutions at its Board of Directors’ level agreeing for decreasing the limit for the purchase of its equity shares by FIIs/RFPIs (Reuters)

Reserve Bank today said foreign investors will have to bring down their stake in IIFL Holdings to 80 per cent from 100 per cent at present.

“Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from the existing 100 per cent up to 80 per cent of the paid up capital of M/s IIFL Holdings Limited (Formerly India Infoline Limited) under the Portfolio Investment Scheme (PIS)”, RBI said.

Also Read: BPCL shares gain after RBI raises FII limit to 49%

RBI said the company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for decreasing the limit for the purchase of its equity shares by FIIs/RFPIs.

The purchases could be made through primary market and stock exchanges, it added.

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