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FIIs, FPIs barred in Fortis, Claris Lifesciences as overall limit crosses 24%, says RBI

Mumbai: The RBI on Wednesday said foreign buyers will not be able to buy any more shares in Fortis Healthcare and Claris Lifesciences as the prescribed limit has been reached.

The foreign institutional investors (FIIs)/foreign portfolio investors (FPIs) in Fortis Healthcare Ltd has crossed the overall limit of 24 percent of its paid-up capital, The Reserve Bank of India said.

Representational image. Reuters

Representational image. Reuters

"Therefore, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of Foreign institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs)," it added.

In the case of Claris Lifesciences, RBI said holding by FIIs and FPIs too has crossed the overall limit of 24 percent. "Therefore, no further purchases of shares of this company (Claris) would be allowed through stock exchanges in India on behalf of FIIs/FPIs," RBI added.

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

RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.


Published Date: May 25, 2017 10:42 AM | Updated Date: May 25, 2017 10:56 AM

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