RBI advised that the foreign share holding by FIIs in this company have gone below the revised limit stipulated under the FDI Policy
The Reserve Bank of India (RBI) lifted the restriction on purchase of shares in non-banking financial company Shriram City Union Finance by allowing FIIs (foreign institutional investors) to hold up to 74% of the paid up capital.
"The Reserve Bank of India notified that Shriram City Union Finance has passed resolutions...to enhance the limit for purchase of its equity shares and convertible debentures by FIIs through primary market and stock exchanges up to 74% of its paid up capital, under the PIS," RBI said in a notification on Thursday.
The RBI has also advised that the foreign share holding by FIIs in this company have gone below the revised threshold limit stipulated under the current FDI Policy.
The Reserve Bank of India (RBI) lifted the restriction on purchase of shares in non-banking financial company Shriram City Union Finance by allowing FIIs (foreign institutional investors) to hold up to 74% of the paid up capital.
"The Reserve Bank of India notified that Shriram City Union Finance has passed resolutions...to enhance the limit for purchase of its equity shares and convertible debentures by FIIs through primary market and stock exchanges up to 74% of its paid up capital, under the PIS," RBI said in a notification on Thursday.
The RBI has also advised that the foreign share holding by FIIs in this company have gone below the revised threshold limit stipulated under the current FDI Policy.
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