Foreign investors will require prior approval from the Reserve Bank for purchasing stocks of JSW Holdings Ltd as the permitted limit for them under the rules has reached a trigger point.
The foreign shareholding through Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) in JSW Holdings Ltd has reached the trigger limit, RBI said.
"Hence further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India," it said in a notification.
Foreign portfolio investors held 17.50 per cent in the company as on June 30, 2017, according to data on BSE.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through 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.
Stock of JSW Holdings closed 1.88 per cent down at Rs 1,870.50 on BSE today.
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