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

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

PTI May 25, 2017 10:42:03 IST
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.

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

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.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Lakshmi Vilas Bank placed under moratorium, withdrawals capped at Rs 25,000; RBI proposes merger with DBS Bank
India

Lakshmi Vilas Bank placed under moratorium, withdrawals capped at Rs 25,000; RBI proposes merger with DBS Bank

TN Manoharan, former non-executive chairman of Canara Bank, has been appointed as the administrator of the bank

Reserve Bank of India becomes world's first central bank to reach 1 million Twitter followers
India

Reserve Bank of India becomes world's first central bank to reach 1 million Twitter followers

What makes the achievement all the more impressive it that the 85-year-old Reserve Bank was a latecomer to the world of Twitter, creating its account only in January 2012