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  • RBI allows FIIs to buy shares in IDFC

    Published on September 12, 2013

    RBIcp2The Reserve Bank of India has lifted the restrictions placed on Foreign Institutional Investors, FIIs on purchasing shares of Infrastructure Development Finance Company, IDFC, as the foreign shareholding in the company has gone below the prescribed limit. FIIs are allowed to hold upto 54 per cent in the company. As of quarter ended June 30, they held 52.19 per cent holding in the company. The central bank said in a notification that foreign share holdings in IDFC Ltd. by FIIs/NRIs/Persons of Indian Origin (PIOs)/Foreign Direct Investment (FDI)/American Depository Receipts (ADRs)/Global Depository Receipts (GDRs), under the Portfolio Investment Scheme have gone below the prescribed threshold limit stipulated under the extant FDI Policy. Hence, it said, the restrictions have been withdrawn with immediate effect.

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